Bitcoin Price Rejects to $53,000 as Futures Open Interest Hits 2-Year High

Bitcoin price jumped has $53,000 Today. Cointelegraph explain why.

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Bitcoin (BTC) price rallied has A new 2024 high has $53,019 on Feb. 20, Before suddenly sale disabled has $50,000 on a few Exchanges. Traders are quoting consistent place BTC ETFs influx And THE Future provide reduce by half event as major factors behind THE price move, And has THE time of editing, BTC price professions above $52,100.

BTC/USD every day chart. Source: TradingView

Let's go take A look has THE primary the reasons Why THE Bitcoin price East volatile today.

Bitcoin eventually open interest hit 26 months high

Bitcoin eventually open interest (OI) has hit A new annual high, reach levels last seen In Number 2021. This noted increase trade activity around THE the biggest cryptocurrency by walk capitalization.

Data Since vs...