Trading Firm Sees Bullish Signs as Bitcoin Open Interest Surges to Highest Level Since FTX Crash

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Open interest in $BTC across crypto derivatives exchanges has surged to $10 billion, a five-month high after leverage subsided in the wake of FTXOfficial's collapse in November, according to data from coinalyzetool.

A rise in open interest, which is a metric that assesses the value of all unsettled derivatives positions, alongside an increase in price is often used to confirm the legitimacy of a move. At the time of writing, bitcoin was trading at around $30,000 after it surged to a 10-month high of $30,540 on Tuesday.

"We think this move is driven by technicals, BTC broke a major resistance at $28.5k and rebounded on its 2023 bullish trendline," Touag said. "For now, we do not see signs of extreme exuberance; indeed, the fear and greed index is at 61, funding rates are still negative on many exchanges for BTC while short-sellers did not capitulate yet. We will monitor these metrics to predict a potential trend reversal."

 

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ftxofficial coinalyzetool Lol you tagged the wrong account 😂😂 it should be FTX_Official

ftxofficial coinalyzetool Buy FTT now

ftxofficial coinalyzetool Hello i want to know more about STA token, can u tell me how much secure STA token & clear me its real or fake token?

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