Bitcoin News: Bitcoin (BTC), the world’s largest cryptocurrency extended its gaining run amid the emerging FUD in the market. Data depicts that open interest for BTC options and futures registered an all-time high (ATH) in March on the crypto exchange Deribit. However, Bitcoin price is up by over 25% in the last 30 days.

Bitcoin OI Hits ATH

As per a report, Open interest for Bitcoin options and futures jumped while the global market was trading under constant fear of erupting banking crisis. The open interest hit the ATH of 433,540 contracts on Deribit on March 23. It added that in the last 12 months, the open interest ranged average between 150K to 300K.

Traders are putting their bets on Bitcoin price surge ahead amid the increasing regulatory enforcement over crypto firms. Around 206,979 contracts on Deribit call for a BTC price surge, while, 93,857 set a bearish call. Read More Bitcoin News Here…

The post Bitcoin Open Interest Spikes; Where Will BTC Price Move? appeared first on CoinGape.

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Filed under: News - @ April 4, 2023 7:16 am