No $90K Bitcoin till next year: BTC futures open interest hits 8-month low
Bitcoin’s resilient basis rate and options data suggest limited downside despite ETF outflows, while BTC waits for a catalyst that can help it reclaim $90,000.
Bitcoin (BTC) bulls worry that institutional interest is weakening amid softer demand for BTC futures. However, other metrics suggest that the BTC price could avoid falling below $85,000.
Key takeaways:
BTC futures open interest fell to $42B, an eighth-month low, signalling a leverage flush rather than bearish bets.