Crypto Blog
Bitcoin on-chain metrics are flashing bullish signals. The cryptocurrency’s open interest just hit an all-time high, and demand is growing at a fast monthly pace.that bitcoin’s open interest has reached a record high of $19.8 billion. Pseudonymous analyst EgyHash said this points to a bullish sentiment among traders.Besides the increased open interest, bitcoin funding rates have reached their highest positive levels since August.
It is worth noting that while demand is recovering, the momentum remains in negative territory, indicating that traders are still selling more than they are buying. However, the scale of this imbalance has eased.
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