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CME Bitcoin Futures Open Interest Surge Indicates Interim BTC Price Top

Every once in a while, open interest sees a spike in a relatively short amount of time. When that happens, it nearly always marks a turning point for bitcoin prices, one observer noted.

By Omkar Godbole|Edited by Parikshit Mishra

Updated Nov 7, 2023, 4:18 p.m. Published Nov 7, 2023, 6:54 a.m.

Open interest in Chicago Mercantile Exchange's BTC futures has surged 35% in four weeks. (Erol Ahmed/Unsplash)