CryptoQuant: During the Bitcoin surge this morning, the contract open interest increased by 2 billion USD

CryptoQuant analyst @Darkfost_Coc stated that during the Bitcoin rally, the total contract open interest increased by $2 billion.

@Darkfost_Coc mentioned that when this situation occurs, price fluctuations tend to last for a very short time. Leverage positions are often temporary, which can hinder the market from establishing a healthy bottom, thus being detrimental to a sustainable bull market reversal.