Bitcoin’s open interest has reached a new all-time high of $19.8 billion, signaling increased activity in the derivatives market, according to analyst EgyHash via CryptoQuant data. Funding rates have also hit their highest positive level since August, suggesting that the majority of these positions are long on Bitcoin.
Bitcoin Open Interest | Source: CryptoQuant
The surge in open interest reflects a growing influx of liquidity and heightened participation within the crypto market. Positive funding rates typically indicate that traders are paying a premium to maintain long positions, which could point to prevailing bullish sentiment. However, these developments also imply elevated risk levels as leveraged positions accumulate, raising the potential for volatility in the market.
Elevated open interest and funding rates may signal further price movements, as leveraged positions often lead to sharper market reactions.
The post Bitcoin open interest reaches new all-time high with increased bullish sentiment appeared first on CryptoSlate.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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