Bitcoin reaches 110 thousand dollars, but the analyst warns of the leverage rally star-news.press/wp

Bitcoin has risen to the mark of $ 110,000, but open interest data can raise questions about the sustainability of the assembly.

Bitcoin coin witnessed the era of momentum ascending

Since it fell at low levels of $ 105,000 on Tuesday, Bitcoin has witnessed some of the new momentum that has so far crowned the level of $ 109,000 until a short test of $ 110,000.

Below is a scheme that shows how the last path of the currency seemed.

The price of the coin seems to have witnessed a sharp turnaround over the last couple of days | Source: BTCUSDT on TradingView

Over the past 24 hours, the original has added about 2 % to its recovery. This is not much, but the mutation is still not noticeable because it brought the currency close to the highest level (ATH). Now, will the gathering continue? The answer to this naturally depends on a number of factors, but one of the signals that you can speak against is the rise in open attention.

The open interest BTC witnessed a sharp leap alongside the boom

He also indicated by the Marton Community Analyst in Jadid mail In X, another BTC rally was accompanied by a rapid increase in open attention. The “open interest” refers to a scale that tracks the total amount of parking related to the bitcoin currently activated by the derivative market traders in various central stock exchanges.

When the value of this scale rises, this means that investors open new locations in the market. In general, the total leverage in this sector rises when this trend appears, so the price of encoded currency may become more volatile after it.

On the other hand, the fiery indicator involves that holders either close their will or to be forcibly filtered by their platform. Because of the flow of leverage, this trend can lead to the behavior of the original in a more stable way.

Now, here is a scheme that shows the direction in the 24 -hour change of Bitcoin’s open attention during the past month:

Looks the metric has seen a sharp positive value during the past day | Source: @JA_Maartun on X

As visible in the graph above, the 24 -hour change in Bitcoin’s open interest was a sharp rise alongside the assembly, indicating that investors have opened a large number of positions.

This is not something unusual, as speculative activity tends to rise when a large price is made in the market. The volume of height, however, can be worth noting.

The analyst also highlighted the scheme, the nails coincided with a similar matter last month in general, with peaks in the price of encrypted currency. It remains now to see whether the same style will play this time as well.

Distinctive image from Dall -e, Cryptoquant.com, Chart from TradingView.com

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