BTC Trend

Currently, Bitcoin price is showing strong volatility with prices around $66,000 to $68,000. Recent trends suggest that Bitcoin is likely to continue rising, with many analysts predicting that the price could reach $74,000 in the near future. The Bitcoin market is attracting great interest from investors, as open interest on derivatives exchanges has increased to near record levels, indicating an increase in trading volume.

However, traders remain divided on Bitcoin's short-term outlook, with the ratio of short orders (51%) to long orders (49%) being almost equal. This shows hesitation in predicting the direction of the market. However, many investors remain optimistic about the possibility of reaching new highs by the end of 2024.

This trend reflects Bitcoin's recovery after a period of low prices in the past, with many predicting further price increases due to factors such as growing support from major financial institutions and the development of blockchain technology.