"The recent break of 68k was accompanied by about $2.4B in new BTC inflows over the past 6 sessions, along with a corresponding spike in BTC futures OI, which is a constructive indicator for new longs being established," Augustine Fan, head of insights at crypto wealth management firm SOFA, told CoinDesk in a Telegram message Monday.
Open interest refers to unsettled futures bets and indicates new money entering the market. A rise in the metric, alongside a price increase, confirms an uptrend.
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