A rise in open interest, which is a metric that assesses the value of all unsettled derivatives positions, alongside an increase in price is often used to confirm the legitimacy of a move. At the time of writing, bitcoin was trading at around $30,000 after it surged to a 10-month high of $30,540 on Tuesday.
As Bitcoin Open Interest Surges to Highest Level Since FTX Crash Trading Firm Sees Bullish Signs
