The post Bitcoin’s Bullish Surge Supported by Rising Open Interest: $80K Next? appeared first on Coinpedia Fintech News
Bitcoin’s derivative market is on fire! Long position traders are in control, willing to pay premiums to short traders, showcasing strong bullish sentiment. Open Interest (OI) has surged to 17.89 billion, up 0.06% in the last 24 hours and 5.98% over the past week.
Last night, BTC briefly surged above $70K before settling at $68,897.86. This rise in OI indicates increasing liquidity, volatility, and market attention, bolstering the current price uptrend. As the trend continues, Bitcoin is poised to break through key resistance levels, setting its sights on the $80,000 mark.
