$BTC is currently down 16% from its recent highs, yet Open Interest continues to climb.
Interestingly, similar levels of rising Open Interest have historically coincided with Bitcoin forming major market bottoms.
This could be a sign that a major move is building up. With leverage increasing, one side of the market could be in for a painful liquidation.
The big question is: Who gets squeezed next, the bulls or the bears?
Interestingly, similar levels of rising Open Interest have historically coincided with Bitcoin forming major market bottoms.
This could be a sign that a major move is building up. With leverage increasing, one side of the market could be in for a painful liquidation.
The big question is: Who gets squeezed next, the bulls or the bears?
