Bitcoin Suddenly Reclaims $31,000 as Open Interest Starts Exploding

Bitcoin has once again risen above $31,000 amid a sudden upswing in open interest.

Open interest, a measure of outstanding futures contracts that haven't yet been settled, jumped more than $300 million in just two hours. This suggests a significant increase in trading activity and speculative interest in the cryptocurrency.Bitcoin can clear the hurdles of $32,500 and then $34,000, it could indicate a stronger bullish trend in the making.