Analyst: Bitcoin open interest hits a record high, market bullish sentiment surges

ChainCatcher news, according to Forbes, as market sentiment strengthens, the price of Bitcoin is on the rise, and its open interest has also reached an all-time high. Amberdata's derivatives director Greg Magadini stated that the total notional interest rate for Bitcoin-related futures has climbed to a historic high, indicating strong market optimism for Bitcoin. Additionally, the open interest for futures contracts across the entire cryptocurrency market has also set a new record.

Analyst Paul Howard believes that Bitcoin volatility may rise with the expiration of options, and current options market data shows a large amount of open interest in call options, reflecting a general bullish sentiment.