Bitcoin’s recent surge above $60,000 has rekindled enthusiasm among traders, bouncing back from the downturn in August. This upward movement led to a significant increase in open interest: Bitcoin futures soared from $30.21 billion to $32.08 billion in just 24 hours, indicating new capital inflows. Both traditional and perpetual futures markets have experienced similar rises, suggesting a renewed wave of bullish sentiment. But what’s fueling this trend, and what could it mean for Bitcoin’s near-term outlook? Explore the complete dynamics at work. Unlock Alpha for in-depth insights.
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