[Analysis] "Increase in 'Long Positions' in Derivatives Market... Rising Expectations"
JOON HYOUNG LEE
Summary
- It was reported that an increase in long positions is being observed in the Bitcoin (BTC) derivatives market.
- According to CryptoQuant, the open interest (OI) indicator shows an increase in investors' positions.
- It was analyzed that after Bitcoin broke through a major resistance level recently, expectations for a price increase have grown.
It has been observed that more investors are betting on the rise of Bitcoin (BTC) prices in the cryptocurrency derivatives market.
A contributor to CryptoQuant, a crypto on-chain analysis platform, stated on the 23rd through CryptoQuant that "the open interest (OI) indicator in the derivatives market shows that the positions held by investors are increasing," and "particularly, long positions are on the rise."
CryptoQuant analyzed that "this trend has emerged after Bitcoin recently broke through a major resistance level," and "it can be interpreted as a signal indicating traders' expectations for a price increase in the coming days."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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