The analyst at CryptoQuant @Darkfost_Coc stated that the total open interest for futures contracts across the network has increased by 2 billion dollars during the rise of Bitcoin this morning.
@Darkfost_Coc mentioned that price fluctuations tend to be short-term when this happens. Leveraged positions tend to be temporary, which usually hinders the market from building a healthy bottom, thus obstructing a sustainable reversal of the bearish market.
BTCUSDT
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66,170.3
-1.77%