Bitcoin Open Interest Reset: Opportunities for Short-Term Gains

Bitcoin recently experienced a significant "shakeout" when its open interest dropped by nearly $12 billion in early March. However, analysts believe this could be an opportunity for Bitcoin to recover and continue its upward momentum in the near future. Read on for more details on the impact of this event on Bitcoin's value and market outlook.

Bitcoin’s recent open interest reset of nearly $12 billion has created potential opportunities for short to medium-term gains, according to crypto analysts. The market is closely monitoring Bitcoin's price movements and open interest for signs of volatility, especially with the upcoming Federal Open Market Committee (FOMC) meeting.