Bitcoin traders flag ‘inflection point’ in key futures market metric as BTC breaks range
Crypto traders say Bitcoin is at an “inflection point” after BTC’s open interest rises and the cryptocurrency’s price pushes into a new range.
The Bitcoin (BTC) market is at an “inflection point” after a historic Bitcoin 2024 conference that has seen BTC futures open interest break out of range, according to analysts.
“We finally have a breakout of this range,” declared independent analyst Horse, referring to Bitcoin’s futures open interest.
Open interest (OI) refers to the total number of BTC-related derivative contracts currently open on all exchanges.
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Author: Nancy Lubale
