Bitcoin open interest stabilizes around $29 billion, lowest level since June

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Odaily2024/07/24 23:30

By:Odaily

Odaily News According to data from The Block, despite recent price fluctuations, BTC total open interest remains stable at around $29 billion, the lowest level since June. Bitcoin futures trading volume remained around $1.5 trillion month-on-month, indicating that trader participation continued despite price fluctuations. Analysts said that normally, high open interest combined with sharp price increases could indicate a market bubble where market enthusiasm could outweigh fundamental value. However, currently open interest is stable and prices are rising, indicating a more cautious market sentiment.

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