Bitcoin open interest nears local highs as volatility hits fresh lows
- —Volatility printed a low below five prior local bottoms since September 13
- —Open interest topped the September 22 peak and is nearing the August 14 high
- —Funding is positive, meaning longs dominate and sit closest to liquidation
- —Traders await the Fed decision on October 28 and Israeli election results
Why it matters: A volatility squeeze combined with heavy leverage sets up a sharp move: a long-squeeze lower first, with a short-squeeze rebound possible after.
Source: The Cryptonomist (IT)