Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin's price rose by 1.5% in 24 hours, with significant increases in futures open interest, indicating continued money flow into the market.
Bitcoin neared $70,000 earlier Monday as bullish sentiment from the forthcoming U.S. elections gains more momentum among crypto traders.BTC rose 1.5% in the past 24 hours, CoinDesk data shows, steadily rising through Sunday. The notional open interest on USD-denominated bitcoin futures across all tracked major exchanges crossed $40.63 billion over the weekend, setting a lifetime first.
“The recent break of 68k was accompanied by about $2.4B in new BTC inflows over the past 6 sessions, along with a corresponding spike in BTC futures OI, which is a constructive indicator for new longs being established,” Augustine Fan, head of insights at crypto wealth management firm SOFA, told CoinDesk in a Telegram message Monday.A bump in leverage indicates increased risk tolerance, which may contribute to market volatility - and higher liquidations - in the coming weeks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Dominance Nears 3-Year High Amid Altcoin Weakness; Aptos Outperforms as SUI DropsKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Read more »
Bitcoin's 'Outside Day' Sets Stage for $70K, Altcoins Break Out: Technical AnalysisOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Read more »
Bitcoin: Can PCE Data Propel Crypto Past Key Resistance Toward $70K?Market Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin FOMO is Back: $70K and Then New Record Highs in Sight, Says AnalystStephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
Read more »
BTC Price Analysis: Is Bitcoin Targeting $70K in the Short Term?Crypto Blog
Read more »
Bitcoin Price Analysis: Is BTC Heading Toward $70K or $60K Next?Crypto Blog
Read more »