Odaily Planet Daily News According to CoinGlass data, open interest in Bitcoin contracts increased by more than $2 billion in three days, reaching $37.77 billion on June 6. Crypto trader Daan Crypto Trades posted on the X platform: "Over the past 3 days, open interest in Bitcoin contracts has risen sharply." This may indicate that more traders are speculating. Kelly Kellam, director of BitLab Academy, explained that the surge in positions and continued positive funding rates indicate that Bitcoin prices "are likely" to see a seesaw trend - that is, the price suddenly moves in the opposite direction of the current trend. He added: "As positive funding rates persist (everyone is leveraging long), open interest positions increase, which means that Bitcoin will see a small correction." A large number of open contracts can increase price volatility, especially when traders hold multiple positions and decide to suddenly adjust their strategies. (Cointelegraph)
