BTC's growth has been inconsistent. The rise in BTC from $67,600 since early this morning at 5:00 AM is primarily due to the exponential increase in Open Interest, with futures rising from $20.6 billion to $24 billion. The purpose of this rally is to capture all the liquidity that had been placed above the current price for several days—namely, short positions. The rally is too erratic for the price to stabilize, and it is very likely to drop below $70K soon.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.