[Analysis] Bitcoin (BTC), Open Interest and Whale Sentiment Rise Together… "Institutional Buying Leads the Trend"
Summary
- Bitcoin has surpassed $100,000, with Open Interest and Whale Position Sentiment Index rising together.
- Alpharactal reported that the simultaneous rise in price and open interest indicates trend continuation and confidence among market participants.
- The recent upward trend is centered on institutional buying rather than speculative trading by individual investors, suggesting the possibility of Bitcoin reaching an all-time high.
As Bitcoin (BTC) surpasses $100,000, key indicators reflecting market participation and institutional demand are showing an upward trend.
According to the cryptocurrency specialist media CoinDue on the 10th, the market information platform Alpharactal stated, "Open Interest in the Bitcoin futures and options market is increasing, and the Whale Position Sentiment Index is also maintaining a high level."
Alpharactal explained, "The simultaneous rise in price and open interest is generally interpreted as a signal of trend continuation and confidence among market participants."
Additionally, "The recent rally seems to be based on structural institutional buying rather than short-term speculation by individual investors," adding, "In a situation where market volatility is recovering and price structure is stabilizing, it is noteworthy whether such institutional demand can lead Bitcoin to an all-time high."
Open interest refers to contracts in derivatives like futures and options that have not yet been settled. An increase in open interest indicates that funds are flowing into the market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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