<ul><li>Bitcoin open interest across all major derivatives exchanges is approaching an all-time high, currently standing at over $37.6 billion, up from $34.6 billion.</li><li>Open interest is used to gauge trader interest and willingness to engage, but it does not indicate whether there are more buyers or sellers.</li><li>If Bitcoin breaks and closes above $66,000, it could attract more traders to open leverage positions, potentially pushing the open interest above $40 billion, reaching an all-time high.</li><li>However, the long-short ratio data indicates that currently, there are fewer long volumes compared to short volumes, suggesting that most traders are still bearish.</li></ul>

Bitcoin Open Interest Across All Exchanges Approaching All-Time High: $74,000 Incoming?

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