Record $7.9B Bitcoin futures open interest shows bears are watching BTC price
Bitcoin price may have broken above $20,000 but the 40% decrease in volume shows bears are watching BTC closely. Today Bitcoin (BTC) price blasted through the $20,000 level and in the process, a record $7.9 billion in futures open interest was set. Although the price increased by 74% over the past two months, the total accumulated short-seller liquidations amounted to $4.3 billion, which is lower than the $4.8 billion from longs.BTC futures aggregate open interest. Source: Bybt.comAs shown in the chart above, the futures aggregate open interest increased by 90% over the past two months.....
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