The open interest in Bitcoin futures markets has reached an all-time high, indicating increased trading activity and investor interest. CME holds the largest share of the Bitcoin futures OI, followed by Binance and Bybit. This surge in OI comes after a bullish price rally following the U.S. presidential election. Bitcoin briefly reached a new all-time high before encountering resistance around the $91,265 level. The Commodity Channel Index suggests that the asset is in overbought territory, and there is a potential divergence between the CCI and Bitcoin's price, signaling a potential slowdown. If Bitcoin fails to break through resistance, a pullback may occur, with support at $88,000. However, the high OI indicates optimism among investors, and a successful breach of resistance could lead to a retest of the recent all-time high.
- Content Editor ( crypto.news )
- 2024-11-14
Bitcoin open interest hits an ATH of $55.7b: here’s what to expect