The post Bitcoin Open Interest on Exchanges Spikes to ATH of $19B: Are Big Moves Coming appeared on BitcoinEthereumNews.com.

Bitcoin rebounds with rising open interest and notable whale activity as market analysts watch for potential volatility. After a sharp decline last week, Bitcoin is again on the rise. Just five days ago, it dropped below $59,000 but has recently experienced a quick rebound due to a renewal of bullish momentum. Specifically, Bitcoin recovered some of its losses over the weekend, reaching $63,000. In addition, the start of this week has seen an even stronger surge, with the price climbing to $66,500—its highest point since late September. This recovery has caught the attention of market analysts, who are closely watching the factors contributing to Bitcoin’s volatile price movements. Among these factors is the rising open interest across exchanges, an important metric that often signals increased market activity and potential price swings. https://x.com/thecryptobasic Open Interest Reaches New ATH The market recently witnessed a surge in Bitcoin open interest, which reached a record high of $19.75 billion by mid-October, according to expert analyst Ali Martinez. Open interest refers to the total number of outstanding derivative contracts that have not yet been settled, including futures and options. #Bitcoin open interest across all exchanges just hit a new all-time high of $19.75 billion! A spike like this often signals big price moves ahead, with more capital on the line. pic.twitter.com/wIKVkTNxLb — Ali (@ali_charts) October 15, 2024   From mid-September, open interest has seen steady growth, as market participation in Bitcoin derivatives increases. Historically, spikes in open interest have preceded massive price movements. Earlier in the year, similar increases in open interest led to major rallies in Bitcoin’s price, suggesting a potential link between this metric and volatility. With open interest now at an all-time high, Martinez foresees potential further price fluctuations in the coming days. Whale Activity Raises Questions While Bitcoin’s price has been climbing,…

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Filed under: News - @ October 15, 2024 8:24 pm