Bitcoin’s recent breakout above $60,000 has reignited excitement among traders, recovering from August's earlier slump. This surge prompted a remarkable spike in open interest: Bitcoin futures skyrocketed from $30.21 billion to $32.08 billion within 24 hours, reflecting new capital inflows. Notably, both traditional and perpetual futures markets have seen parallel rises, signaling a fresh wave of bullish sentiment. But what's driving this behavior, and... what could it mean for Bitcoin's immediate future? Discover the full dynamics at play. Unlock Alpha for deeper insights.
Bitcoin's climb above $60k causes futures open interest to surge $2B in a day
08/23/2024 09:00
Bitcoin's breakout above $60,000 led to a $2 billion increase in futures open interest in the span of 24 hours.
Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day 22 seconds ago · 3 min read
Institutional interest surges as traders bet on Bitcoin's price rebound.
3 min read
Updated: Aug. 22, 2024 at 11:26 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.