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Bitcoin Open Interest Hits Record $40 Billion; Bullish Outlook Bolstered by Macro Factors, Says Report

  • Bitcoin recently fell 2.4% but continues trending towards US$70k.
  • Open interest in Bitcoin futures has reached a new all-time high of US$40.38 billion, signalling strong bullish sentiment.
  • Despite potential short-term volatility, long-term market conditions and macroeconomic factors support sustained Bitcoin growth.
  • Analysts note a pattern in Bitcoin open interest, suggesting a disconnect between market speculation and stable demand.

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