The Bitcoin open interest is a good indicator of how investors are viewing the cryptocurrency and what bets they’re making. This is why the metric hitting a new all-time high is a big deal, carrying serious implications for the market. Once again, the Bitcoin open interest has set a new record and this could spell doom for the digital asset, even if just in the short-term. Bitcoin Open Interest Sets New Record In an interesting turn of events, the Bitcoin open interest has now risen to a new all-time high. After hitting a record high of $39.03 billion back in May, the open interest had declined for a while, even dropping below $30 billion back in May. Related Reading: Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst Following this, the Bitcoin open interest fluctuated for a few months, taking the price along with it for the ride. However, with the recovery in the market, the open interest has been rising once again, exploding to new highs as the BTC price shot for $70,000. On Monday, th ..
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