bullish

Bitcoin

when

Coin

<ul class="wp-block-list news-points">
 <li>Bitcoin’s open interest exceeds $18 billion, a historically volatile level.</li>
 <li>Analysts predict a possible shakeout before Bitcoin’s next major price move.</li>
 <li>Funding rates show mild bullish sentiment, but a correction could still be imminent.</li>
</ul>
Bitcoin’s open interest has exceeded $18 billion, a historically significant level often preceding market corrections. Bitcoin’s price has also retreated to a low of $60,314 today.
The rise in open interest, which tracks the number of outstanding derivative contracts, suggests growing speculative activity in the market. Recent <a href="https://cryptoquant.com/insights/quicktake/6706b968c3308838d28881eb-Is-it-reasonable-to-expect-a-final-shake-out-before-the-next-big-move" target="_blank" rel="noopener noreferrer nofollow">charts</a> by CryptoQuant show that open interest has ranged between $13.5 billion and $19.5 billion in recent months. Previous peaks in open interest have often coincided with price corrections.
<h2 class="wp-block-heading" id="h-historical-correlation-between-bitcoin-crashes-and-high-open-interest">Historical Correlation Between Bitcoin Crashes and High Open Interest</h2>
In July, when open interest was above $19 billion, BTC’s price neared $68,000. However, a sharp decline followed, bringing BTC’s price down to $54,000, with open interest similarly declining.&nbsp;
A similar pattern emerged in June when open interest hovered between $16.5 billion and $17.5 billion, while Bitcoin’s price fluctuated between…
The post <a href="https://coinedition.com/another-doomsday-projected-for-bitcoin-as-open-interest-surges-past-18b-again/" rel="noopener noreferrer nofollow">Another Doomsday Projected for Bitcoin as Open Interest Surges Past $18B Again</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Another Doomsday Projected for Bitcoin as Open Interest Surges Past $18B Again

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