Bitcoin’s recent breakout above $60,000 has reignited excitement among traders, recovering from August's earlier slump. This surge prompted a remarkable spike in open interest: Bitcoin futures skyrocketed from $30.21 billion to $32.08 billion within 24 hours, reflecting new capital inflows. Notably, both traditional and perpetual futures markets have seen parallel rises, signaling a fresh wave of bullish sentiment. But what's driving this behavior, and... what could it mean for Bitcoin's immediate future? Discover the full dynamics at play. Unlock Alpha for deeper insights.
![Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2024/08/bitcoin-futures-oi.jpg&w=70&h=37&q=75)
Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day
Institutional interest surges as traders bet on Bitcoin's price rebound.
![Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day](https://cryptoslate.com/wp-content/uploads/2024/08/bitcoin-futures-oi-768x403.jpg)
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