Bitcoin futures open interest returns to positive

Yesterday, Bitcoin consolidated above the significant resistance area of $65,000 for the first time in a long time.. In technical terms, this indicates that strong buyers have become active in the market.. This probably happened against the backdrop of the last halving, which took place on the BTC network on April 20. Coinglass specialists noted that as of April 22, open interest in Bitcoin futures again became positive. According to experts, this indicates that short-term traders have begun to more actively open long positions.

Last week, selling dominated the crypto market. This contributed to a fall in the value of not only Bitcoin, but also major altcoins.. On the other hand, Coinglass emphasized that the confident consolidation of BTC quotes above $65,000 is a very positive sign. And if the price still remains above this area, then in the foreseeable future we can count on the development of a stable upward trend, experts noted.

Popular analyst Rekt Capital also commented on the current situation.. In his opinion, the main digital coin is entering a phase of global consolidation. The specialist believes that now buyers will actively accumulate long positions in a wide range from $60,000 to $70,000.

Rekt Capital suggested that once the accumulation phase is completed, the flagship crypto asset will be able to quickly reach a new historical extreme near the $80,000 area. However, much will depend on geopolitical and macroeconomic factors, Rekt Capital emphasized.

Currently, the flagship of the digital asset market is trading at $66,555. The market capitalization of the coin is estimated at $1.31 trillion. Trading volumes over the past day increased by 28.6% and amounted to about $26.9 billion.