Best Crypto to Buy Now Amid Rising Bitcoin Prices and Sluggish Open Interest
Institutional interest and positive news coming from the regulatory front have allowed Bitcoin to move beyond the $104K level recently. The community is positive about it, and experts like Arthur Hayes believe that a move past the $250K level is also coming soon.
However, Bitcoin open interest is lower right now. Alphapractal, an investment data analysis firm, has revealed that the current open interest in Bitcoin is just $61.3 billion — lower than the last time Bitcoin pushed past the $103K level.
For those who don’t know, open interest is a metric tracking the total amount of money poured into BTC at any given time.
What this essentially means is that Bitcoin could be on its way to a short-term price correction — a…
