๐Ÿš€ Bitcoin Bulls Are Charging! ๐Ÿš€

Bitcoin on-chain metrics are lighting up with bullish signals! ๐Ÿ“ˆ CryptoQuant reports that BTC's open interest has soared to an all-time high of $19.8 billion, signaling strong trader confidence. Pseudonymous analyst EgyHash highlights this as a bullish sentiment among traders.

Adding fuel to the fire, bitcoin funding rates have hit their highest positive levels since August, indicating a majority of long BTC positions. This surge in liquidity and investor attention is a promising sign for BTC enthusiasts.

CryptoQuantโ€™s head of research, Julio Moreno, notes that bitcoin demand is growing at its fastest monthly pace since mid-April 2022. CEO Ki Young Ju confirms that demand is back, with inflows into U.S. spot Bitcoin ETFs doubling to $555 million on Monday.

While the market momentum remains slightly negative, the imbalance is easing. With 45% of ETF investors eyeing crypto products, higher inflows could push BTC prices to new heights. Stay tuned, Bitcoiners! ๐ŸŒŸ