Bitcoin rose to $89,292 today, its highest since April 2, as traders injected funds into cryptocurrency markets. The top-ranked cryptocurrency rose 3.0% in 24 hours amid increased market activity, based on the latest market figures. Related Reading: Pi Network Frenzy Builds: $5 Prediction As Whales Take Out Millions Market Observers Notice Fundamental Shift In Bitcoin Activity CryptoQuant’s trading data reveals Bitcoin’s price increase coincided with an enormous $3.1 billion rise in open interest within one day. The sudden increase indicates a large number of traders are taking significant positions in the future price increases of Bitcoin. Open interest refers to the value of outstanding unsettled futures contracts on the market. The reversal follows a downward streak earlier this month as open interest declined from $29 billion to about $24 billion between March 22 and April 10. But the trend switched abruptly after April 10, with open interest rising consistently to hit $30 billion on April 21 – the highest level since early February. Options Trading Volume Soars By More Than 300% Bitcoin’s options market also experienced even more sensational changes. Options market volume surged by 347% to $3.57 billion. Meanwhil ..
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