The analyst further explained what happened the last time this low open interest occurred while providing a bullish outlook for the flagship crypto. Bitcoin’s Open Interest Crashes To 6-Month Low In an X post, CrediBULL Crypto revealed that Bitcoin’s open interest is at the lowest levels it has been at in six months.
He also noted that the same thing happened while the flagship crypto was trading between $50,000 and $60,000 just before its rally to $100,000. Related Reading: Crypto Pundit Who Correctly Called The Bitcoin Price Surge From $15,400 To $100,000 Reveals What’s Next Interestingly, CrediBULL Crypto asserted that these metrics overall look "fantastic” for Bitcoin and further solidified his belief that the flagship crypto has formed a bottom.
The analyst added that the flagship crypto needs to stay above this price level before the reversal can be confirmed. However, Titan of Crypto still provided a bullish outlook for the Bitcoin price, suggesting that a reintegration might be about to occur, which could send the flagship crypto into a markup phase.
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