Tuesday, February 18, 2025

Breakout Alert: Bitcoin Futures Open Interest Surges after BTC Breaks Range

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Originally published on: July 29, 2024

The Bitcoin market is on the verge of a major shift as analysts highlight an “inflection point” following the recent Bitcoin 2024 conference. BTC futures open interest has broken out of its previous range, signaling a significant development in the market.

Open interest (OI) in BTC-related derivative contracts has surged, indicating that investors are actively opening new positions in the market. This increase in leverage could lead to higher volatility for the asset, creating opportunities for traders.

Independent analysts have noted the bullish momentum in the market, attributing it to a variety of factors including the Bitcoin 2024 conference and positive remarks from former US President Donald Trump. As BTC price continues to climb, long positions in the perpetual and options markets are being closed out, further fueling the upward trend.

While Bitcoin’s price recently experienced a slight correction, dropping below $70,000, the surge in futures open interest suggests that a new all-time high could be on the horizon. With over $39.4 billion in BTC futures OI, traders are optimistic about the potential for BTC price to break out to new highs in the near future.

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