"Bitcoin's recent rally past $28,000 defies traditional market trends, with open interest, as a percentage of Bitcoin’s market cap, approaching an annual low. This surprising contraction in speculative trading amidst bullish momentum raises fascinating questions. Are traders becoming more cautious? Are they anticipating a potential price correction? However, something intriguing is occurring beneath... A shift that could be reshaping the very dynamics of the Bitcoin market..."
Declining open interest in futures market contrasts Bitcoin’s bullish rally Declining open interest in futures market contrasts Bitcoin’s bullish rally
The increase in bitcoin price is not matched by futures market activity.
3 min read
Updated: Oct. 3, 2023 at 3:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
