Bitcoin OI has surged to a record high of $40 billion.
The number of Ethereum accumulation addresses has surged past 19 million.
Analyst Murad Mahmudov believes that investing in meme coins builds wealth.
Bitcoin (BTC), the largest digital asset by market cap, is approaching the $70,000 price level, trading at $68,895.95 at the time of writing, up 1% in the past 24 hours. The market leader is only 6.63% away from its all-time high of $73,750 and looks set to break through the resistance zone ahead. Meanwhile, the open interest (OI) for Bitcoin futures has also reached a record high of $40 billion.
According to the data from Coinglass, the record high OI for BTC futures is 586,260 BTC ($40.67 billion), a 2.88% increase over the past 24 hours. The Chicago Mercantile Exchange (CME) holds the largest share of this OI with 180,750 BTC, followed by Binance, the leading digital asset trading platform by volume, with 120,500 BTC.
Rising OI levels suggest strong sentiment surrounding the current market trend, indicating a potential continuation in the short term. The increase in OI shows that money is flowing into the market, raising the possibility of further pr…
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