According to BlockBeats, on November 29, The Block reported that since Trump's victory on November 5, the open interest of Bitcoin futures has risen sharply, from $39 billion on November 5 to the current $60.9 billion, indicating an increase in trading activity and market speculation. However, Bitfinex analysts still believe that leveraged trading will not face the risk of an imminent market adjustment.
Bitfinex analysts said the increase in open interest appears to be organic, driven by expectations of future price appreciation. Leverage accumulation is a common tool used by traders, including institutions, to position themselves against expected price movements.
Bitfinex analysts also pointed out that as of November 22, open interest has decreased, especially at the level around $94,000, where a large number of pending orders were executed. They also said that they believe that there is nothing abnormal about the recent accumulation of leverage, and that the price retracement to the $93,000 area is a normal correction.
