Bitcoin market sentiment intensifies as open interest sees Sharp Uptick
Generally, the crypto market has begun to experience bullish movements. BitcoinThe largest digital asset soared from $84,000 to the $88,400 threshold. As BTC’s price rises slightly, several areas of its market dynamics have significantly improved, such as Open Interest (OI).
Bitcoin open interest rebound
As the cryptocurrency market slowly rebounds, Bitcoin’s market sentiment seems to be turning into a positive outlook. Encouraging Report From technology and chain expert Ali Martinez, Bitcoin’s open interest on major crypto platforms is exciting.
and BTC’s open interest rises In addition to market growth, progress also demonstrates a fresh wave of optimism for large and small investors. The increase in open interest is sometimes seen as a key sign of speculation, which means traders are becoming more active and shifting their future big prices to bets.
The data show that the surge in open interest was about $3.2 billion, with an overall value of more than $30.5 billion. Ali Martinez said the substantial increase only occurred within 24 hours as prices soared to the $87,000 threshold.
BTC’s open interest was about $27.2 billion by Sunday before Monday’s rise, reflecting a 10% increase over the 24-hour timeframe. As BTC continues to stabilize near critical resistance levels, the growing interest in open interest may affect Price of BTCtriggers the ongoing upward trend expansion.
When this happens, more and more investors and traders may be involved in flagship assets because they position themselves as The next important step in the price trajectory. This is because such a significant growth in chain activity could be a turning point for Bitcoin.
Profit growth for long-term BTC holders
BTC’s recent uptrend Over the past few days, long-term holders or whales have made considerable profits for long-term holders or whales. Ali Martinez’s price level is $84,882 Highlight Long-term holders have profits close to $155 million. If the uptrend continues, these whale holders can look for huge profits in the short term, especially if the asset is revisited Key Level For example, a $100,000 trademark or current all-time high.
Market expert Darkfost reports that these investors have realized profits are about 85% Long-term holder The output margin (SOPR) measure of expenditure hovers at level 1.85. However, experts have warned investors to prepare for all situations and be willing to reduce losses if necessary, or to make moderate profits when conditions deteriorate.
At the time of writing, Bitcoin is trading at $87,117, indicating a nearly 3% increase in the past day and nearly 4% in the past week. Investor sentiment increases significantly as prices increase. CoinMarketCap data shows that transaction volumes have increased by more than 181% over the past day.
Featured images from Adobe Stock, charts from TradingView.com
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