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**Bitcoin (BTC) Market Alert Issued as Price Crosses $88,000: Details**
Recent data from CoinGlass has revealed a significant surge in open interest on Binance’s BTC-USDT futures, indicating a potential increase in volatility and market activity. The platform noted that nearly 7,000 BTC ($614.6 million) worth of open interest was added in the early Monday trading session.
Notably, this development is accompanied by positive funding rates on Binance, suggesting that traders are leaning towards making leveraged bullish bets (long positions). As a result, CoinGlass warns of an impending market alert, citing the substantial increase in open interest as a sign of potentially impending volatility.
The market has responded accordingly, with Bitcoin’s price rising sharply to $88,000. This dramatic increase has left investors and traders alike on edge, wondering what this sudden surge in activity means for the future of the cryptocurrency landscape.
What does this mean for you?
Source: https://u.today/bitcoin-btc-market-alert-issued-as-price-crosses-88000-details
