Open Interest in BTC Rises to Over $1.5 Billion
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Some analysts in the cryptocurrency space have expressed concern over the recent increase in Bitcoin’s open interest, which has surpassed $1.5 billion.
According to posts on X.com, a popular cryptocurrency forum, Decentrader founder @filbfilb and Byzantine General (@ByzGeneral) have both noted this development as a high-risk situation.
The market has also seen a decrease in price, with Bitcoin trading down by 3.2%.
This has led to a 6% decline in the market capitalization of memecoins, underperforming the broader market.
The rapid increase in open interest has raised concerns among some analysts, who are urging caution and preparation for potential market volatility.
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