The post Bitcoin and Ethereum’s Q1 Open Interest Indicate Bullish Sentiments – Where BTC & ETH Price Heading Next? appeared first on Coinpedia Fintech News
The crypto market opened the second week of 2023 with a bullish sentiment after Bitcoin prices comfortably surged above $17k on Sunday. Additionally, Ethereum’s (ETH) price has surged 3.6 percent in the past 24 hours to exchange around $1,308, during the early London trading session on Monday. As such, the total crypto market volume is about $33.38 billion, up approximately 101.82 percent, over the last 24 hours.
Notably, the Bitcoin and Ethereum futures contract market has significantly contributed to the recent rebound from FTX lows. Bitcoin’s open interest – the number of options or futures contracts held by traders and investors in active positions – has indicated potential price gain in the coming months.
Furthermore, crypto open interest significantly indicates the level of liquidity in the industry, particul
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