Bitcoin Hits All-Time High... Surge in Long Positions

Son Min

Summary

It was reported that the open interest (OI) of Bitcoin perpetual futures long positions on top centralized exchanges (CEX) is nearing $100 million.
Axel Adler Jr., a contributor at CryptoQuant, stated that the possibility of a bull market resuming is steadily increasing.
Today, Bitcoin reached a new all-time high of $123,218 in the Binance USDT market.

It has been found that the open interest (OI) of Bitcoin (BTC) perpetual futures long (buy) positions on leading centralized exchanges (CEX) is approaching $100 million.

On the 14th (local time), Axel Adler Jr., a CryptoQuant contributor, announced via X (formerly Twitter), "The size of Bitcoin long position open interest on top exchanges is nearing $100 million," and added, "The chances of the bull market resuming are increasing."

Meanwhile, today Bitcoin hit a new all-time high, reaching $123,218 on the Binance USDT market. As of 5:57 p.m., Bitcoin is trading at $122,594, a 4.06% increase compared to 24 hours ago.

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