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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.'s recent price performance has garnered a lot of attention, the explosive increase in open interest (OI) is the true story. Bitcoin's open interest increased by about $2 billion in the last day, indicating increased trading activity and increased investor interest in the top cryptocurrency. The total number of active contracts in the futures and options markets is represented by open interest. An increase in OI is usually associated with higher expectations of volatility and increased participation in derivatives markets. This significant increase in OI highlights the market's increased expectation for Bitcoin's next move as the cryptocurrency is currently trading at about $102,500.Remarkably, funding rates are still low in spite of the increase in OI. This shows that the market sentiment is balanced with neither longs or shorts taking over. When the OI is so high, a neutral funding rate may indicate that traders are being cautious and are holding off on placing strong directional bets until there is a clear move. The chart also indicates that the recent spike in Bitcoin's price has been accompanied by strong trading volume.Dogecoin (DOGE) Breakout in, But There's a Catch; Massive XRP Battle Incoming, Stellar Lumens' (XLM) New Price Support Incoming This makes the argument for consistent momentum stronge