Bitcoin open interest surge past $35B raises 'overheating' concerns
Bitcoin’s recent surge in open interest beyond $35 billion has analysts worried about potential signs of froth in the market.
The recent surge in Bitcoin (BTC) open futures contracts has analysts concerned that the market might be showing signs of frothiness.
“BTC open interest (OI) has surged, exceeding $35 billion, a level that has historically correlated with local price peaks,” Bitfinex analysts declared in an Oct. 1 report.
Bitcoin OI has fallen approximately 9% since crossing the $35 billion mark. Source: CoinGlass
