The Right Place to Buy, Earn, Exchange and Borrow against Your Crypto.

Get Started
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
This article is more than 2 years old...

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.

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

Get an Edge on the Crypto Asset Market

As the crypto market is constantly changing, CryptoSlate Edge is a yearly membership oriented to helping you become a more knowledgeable investor and better decision-maker.

Here's what's included in your membership:
Exclusive Articles

Be the first to read the most compelling stories high-level insights.

Private Discord Community

Communicate directly with our journalists in our private Discord.

Ad-Free Experience

We hide all advertisements for a clean and fast user experience.

Pay with Crypto ($228)
BTC · ETH · USDC · DOGE · LTC · DAI · BCH