Bitcoin’s weekend rally to $65,000 has evaporated despite confirmation that the US Federal Reserve will cut rates in 2024.
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Open interest is often used to gauge the interest and liquidity behind an asset. In Bitcoin’s case, the surge in open interest could signal an imminent breakout.
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Bitcoin continues to trade near a crucial price level, with the downside appearing limited but a lack of bullish momentum evident. The leading cryptocurrency stands around the $65,000 to $66,000 mark, a critical onchain realized price that could either support the price or signal a correction, according to the latest analysis from Cryptoquant researchers. Cryptoquant: […]
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