Summary
- Bitcoin (BTC) open interest is reportedly increasing ahead of the White House crypto summit.
- Trader Gordon Grant revealed that funding rates are also rising along with BTC price increases.
- CryptoQuant's Julio Moreno explained that the crypto summit is raising market expectations.
According to The Block, a cryptocurrency specialized media outlet, on the 6th (local time), Bitcoin (BTC) open interest (OI) is increasing ahead of the White House crypto summit scheduled for the 8th.
Cryptocurrency derivatives trader Gordon Grant analyzed, "Buying pressure has been continuously increasing after BTC tested $82,000," adding, "Open interest is growing, and funding rates are also rising."
Julio Moreno, senior analyst at CryptoQuant, explained, "Funding rates in the perpetual futures market are generally recovering," and added, "The upcoming crypto summit seems to be raising expectations among market participants."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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