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How Bitcoin’s $70K hike unveiled something interesting about traders

  • Open Interest in BTC surged as price reached the $70,000 mark.
  • Traders continued to make their bets despite high amount of liquidations.

Bitcoin [BTC] has inspired massive optimism from traders in the crypto space as the price of BTC surged and reached the $70,000 level.

Despite the high volatility, many traders were willing to make bets on where BTC was headed, going forward.

Open Interest on the rise

In the last 24 hours, a billion dollars in Open Interest was added to the Bitcoin markets. More Open Interest generally indicates more leverage in the market, which can amplify price swings in either direction.

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