The post Open Positions in Bitcoin Reach 27-Month High appeared on BitcoinEthereumNews.com.

– Advertisement – SPONSORED Bitcoin (BTC) futures open positions have successfully reached a new high for the year, and these levels have not been seen for at least the past 27 months. The value recorded by Bitcoin futures indicates an increase in trading activities around the Bitcoin network during this period. According to data from CoinGlass, as of Monday, BTC futures showed a combined open position of $22.9 billion. The Open Position amount is drawing attention as it reaches the highest level in 27 months following the recovery movement in Bitcoin’s price above $50,000. Increasing OI in Bitcoin Bitcoin (BTC) futures open positions have successfully reached a new high for the year, and these levels have not been seen for at least the past 27 months. The open position of Bitcoin futures on Centralized Exchanges (CEX) reached a new 27-month peak seen last in November 2021. Open position, generally serving as an indicator measuring the total value of all pending or “unrealized” Bitcoin futures contracts across exchanges. This serves as an indicator showing increasing market activity and trader sensitivity around a specific asset. The value recorded by Bitcoin futures indicates an increase in trading activities around the Bitcoin network during this period. According to data from CoinGlass, as of Monday, BTC futures showed a combined open position of $22.9 billion. This figure is quite close to the previously recorded peak of around $24 billion. Given that the year is still less than two months old, open positions in Bitcoin futures have seen growth of up to 30%. This development is in line with a Bitcoin price increase of $52,106.42 based on the current market value. Bitcoin, revisiting a level not seen since December 2021, has recorded a price increase of 23% since the beginning of the year. Impact of Spot…

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Filed under: News - @ February 20, 2024 12:22 am