Bitcoin Price Shows Signs of Potential Volatility Ahead
Bitcoin's price has been relatively stable over the weekend, trading between $92,000 and $95,000. Following a lackluster week, concerns about reaching its all-time high of $108,786 are growing. However, on-chain data indicates potential for significant price movements in the coming weeks.
Open Interest Metric Insights
Blockchain analytics firm Alphractal analyzed Bitcoin's open interest (OI) which measures capital flow into BTC derivatives. Key observations include:
- The 30-day Open Interest Delta is at levels comparable to those before Bitcoin reached its previous all-time high of $73,737 in 2024.
- Patterns of alternating increases and decreases in Open Interest Delta suggest cyclical market behavior.
- The 180-day Open Interest Delta, currently slightly above negative territory, may indicate an impending increase in price volatility or a consolidation phase if it dips below zero.
As of now, Bitcoin's price is approximately $103,367, reflecting a 0.4% decline in the past 24 hours.
