Bitcoin Open Interest Falls To $37 Billion—Does This Spell Trouble For BTC?

Open interest in Bitcoin trading is a crucial metric to assess the market’s current sentiment on the digital asset, including potential price movements. In theory, an increase in Bitcoin’s open interest suggests liquidity, which can also support an ongoing price trend. According to the latest Glassnode data, Bitcoin’s OI has dipped from $57 billion to $37 billion, or a loss of 35%, since the world’s top digital asset hit its all-time high.  Related Reading: XRP Turnaround Moment? Analyst Says It’s Lift-Off Time Interestingly, Bitcoin hit an all-time high of $108,786 on January 20th, the day United States President Donald Trump was inaugurated for a second term source: https://www.newsbtc.com/news/bitcoin/bitcoin-open-interest-falls-to-37-billion-does-this-spell-trouble-for-btc/