#Bitcoin open interest surge past $35B raises 'overheating' concerns
Bitcoin’s recent surge in open interest beyond $35 billion has analysts worried about potential signs of froth in the market.
Bitcoin OI — the total number of Bitcoin futures contracts that have yet to be settled or expire — is a critical metric investors use to assess market sentiment and anticipate future price movements.
On Sept. 27, Bitcoin OI reached $35.52 billion, the highest since June 7 when it clocked $37.69 billion, according to CoinGlass data. At that time, Bitcoin was trading near its all-time high, at $70,759, before pulling back nearly 18% over the next 30 days to $58,239.
The analysts argues that this “raises concerns of potential market overheating.”
