Bitcoin’s Open Interest surged past $40 billion on Oct. 21, hitting $40.5 billion, according to CoinGlass, a pivotal moment in the crypto market. Open Interest, which tracks the total value of all active futures contracts, is a crucial sign of increased leverage and market buzz.
Bitcoin’s price was nearing the $70,000 mark, setting off a wave of investor excitement as many wondered if this could be the breakout moment they’ve been waiting for. But, like any good news in the financial world, this also comes with a catch – elevated Open Interest can signal volatility. When it rains, it pours, especially in terms of potential liquidations.
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Full story available on Benzinga.com