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Bitcoin wipes $500M open interest as BTC price drops toward key $70K

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Bitcoin wipes 0M open interest as BTC price drops toward key K
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Bitcoin wipes $500M open interest as BTC price drops toward key $70K

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Source: Coin Telegraph

BTC price action dips nearly 2%, unsettling late longs as Bitcoin shows no interest in the latest US macro data prints.

Bitcoin (BTC) fell toward $71,000 at the Oct. 31 Wall Street open as United States macro data failed to reignite BTC price upside.

BTC/USD 1-hour chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed an ongoing retracement for BTC/USD, which was down 1.6% on the day.

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Author: William Suberg

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