Bitcoin's open interest (OI) has surged past $35 billion, raising concerns of market frothiness.
Increasing geopolitical tensions in the Middle East may cause a price correction, potentially dropping Bitcoin to as low as $55,000.
The Bitcoin OI hit $35.52 billion on September 27th, the highest since June 7th.
Analysts predict a small 5-10% drop in OI that won't halt the overall positive trend, but warn of further price decline if tension escalates in the Middle East.