Bitcoin at $84K: Rising Open Interest Signals a Big Move Ahead
- —Bitcoin fell from $85,000 to $83,600 in 17 minutes, with long liquidations lasting only 5 minutes
- —Open interest in BTC has risen for six straight days and is near a six-week high
- —BTC volatility has returned to levels seen before the late-August and mid-September rallies
- —$84,000 is the key level: holding it opens the way up, losing it could trigger a sell-off
Why it matters: Rising open interest combined with low volatility often precedes a sharp price move, though the direction remains unclear.
Source: The Cryptonomist (IT)