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BitMEX open interest is showing signs of rebounding; here’s what this could mean for Bitcoin BitMEX open interest is showing signs of rebounding; here’s what this could mean for Bitcoin

BitMEX open interest is showing signs of rebounding; here’s what this could mean for Bitcoin

with insights from Skew

Bitcoin’s price action seen throughout the past several days has been rather lackluster, with the benchmark cryptocurrency seeing some choppy trading that has led it to establish a wide range between $5,800 and $6,800.

BitMEX open interest is showing signs of rebounding; here’s what this could mean for Bitcoin

Cover art/illustration via CryptoSlate

Bitcoin’s price action seen throughout the past several days has been rather lackluster, with the benchmark cryptocurrency seeing some choppy trading that has led it to establish a wide range between $5,800 and $6,800.

Interestingly, BitMEX’s open interest has risen in tandem with this turbulence – a sign that traders are growing more interested in entering the markets.

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