Bitcoin (BTC) Eyes $90,000 Break as Open Interest Tops $140 Billion
BTC when published $81,637Now $80,577 ▼ −1.30% since it was published
Bitcoin is trading at $81,615 after a small pullback from the $84,000 area. The price sits right at the 50-day moving average near $80,800, a level that has held through October. At the same time, futures open interest has climbed above $140 billion, which is near the highest level on the chart. Open interest shows investors are returning. It measures the total value of open futures contracts, and when it rises, more money is entering the market. The chart shows a steady climb since mid-August, when Bitcoin jumped from about $64,000 to above $80,000. Since then, open interest has moved from around $110 billion to the current level of more than $140 billion. Open interest in coins is near 100,000 BTC, up from the lows set in June and July.
First reported by U.Today. This page is a short excerpt; the full text is theirs.
