Bitcoin Futures Open Interest Surges to Two-Month High
Bitcoin's Open Interest (OI) in futures has reached a two-month high of about 750,000 BTC, worth nearly $48 billion. This surge indicates increased leveraged speculative trading on major exchanges like Binance, Gate.io, and Bybit.
The predominantly positive funding rates suggest bullish sentiment, despite Bitcoin's price consolidating between $58,550 and $66,300.
Traders are on high alert for a potential spike in Bitcoin price volatility, especially if a sharp price move occurs.