Here’s why Bitcoin’s open interest is rocketing despite lackluster price action

Bitcoin has once again found itself caught in the throes of another period of consolidation as the benchmark crypto trades just a hair above its key near-term support at $6,800.

Here’s why Bitcoin’s open interest is rocketing despite lackluster price action

Bitcoin has once again found itself caught in the throes of another period of consolidation as the benchmark crypto trades just a hair above its key near-term support at $6,800.

This sideways trading has come about shortly after BTC posted a notable breakdown below the support that had been established within the lower-$7,000 region, leading this latest decline to damage its mid-term market structure.

To read the rest of this article, sign in or join CryptoSlate Edge.

CryptoSlate Edge helps you understand the cryptoasset market more clearly.

We can all agree that the crypto market is fast-moving and confusing, but CryptoSlate Edge can help make sense of it for you.

Join now for $19/month Billed Annually
Pay with Crypto BTC · ETH · LTC · BCH · USDC · DAI
Enhanced news coverage
  • Exclusive articles and insights

    Get an analytical edge by accessing members-only articles with curated insights from crypto analysts around the globe.

  • Real-time charts and price snapshots

    Gain a better understanding of the market with real-time charts, price snapshots and more market data in every news article.

  • Explore the companies, products and people in our articles

    We display profiles of people, companies, products, and assets related to every Edge article so you can connect the dots.


Extensive crypto asset and sector data
  • On-chain metrics and social sentiment

    Gain a better understanding of the on-chain trends an explore social sentiment for individual crypto assets.

  • Crypto asset transaction demographics

    Understand where the majority of crypto asset transactions are taking place globally.

  • Explore innovative projects and sectors

    Follow new projects and crypto sectors with our manually curated data for over 50 industry verticals.


What else?
  • Private Telegram community

    As an Edge subscriber, you will access new articles first and engage with the community in our private Telegram channel.

  • A clean, ad-free experience

    We hide all advertisements for CryptoSlate Edge subscribers.

  • Support independent journalism

    As an independent organization in the blockchain industry, we are guided by a strict editorial policy that emphasizes objectivity and transparency in our coverage.


Join now for $19/month Billed Annually
Pay with Crypto BTC · ETH · LTC · BCH · USDC · DAI