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

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

with insights from Skew

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

Cover art/illustration via CryptoSlate

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.

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