Bitcoin futures rising open interest positive for market

The crypto market has reached a positive inflection point as Bitcoin futures open interest (OI) is rising, Cointelegraph reported, citing analysts. Pseudonymous analyst @TheFlowHorse outlined on X that Bitcoin futures OI volume has hit an all-time high for the first time since Bitcoin hit a new all-time high spot price in March. The analyst claimed that Bitcoin is trading higher as long bets are closing in on the perpetual futures and options markets following Trump’s keynote speech at the Bitcoin 2024 conference. He maintains that this is a very positive development.