Bitcoin Open Interest Rockets Up After $69,000 Rally: Brace For Impact?

Quick Summary:

Data shows the Bitcoin Open Interest has shot up to a new all-time high (ATH) following the asset’s break beyond the $69,000 mark.

That said, a further price rally would instead end up liquidating the shorts, keeping the surge going.

This isn’t particularly unusual, as interest in speculation generally goes up during periods of price appreciation.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: Hungary

Topics: Btc Bitcoin News Btcusd Bitcoin derivatives Bitcoin surge Bitcoin Rally Bitcoin open interest Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 18:00:53 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 453 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21832085

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 15 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

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Publisher ID: #105

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