According to COINOTAG News on November 29th, data from The Block reveals a notable surge in Bitcoin futures open interest following Trump’s election success on November 5th. The open interest escalated from $39 billion to approximately $60.9 billion, signifying heightened trading dynamics and potential market speculation. Nonetheless, analysts at Bitfinex maintain that this leveraged trading activity does not signal an imminent threat of market correction. They assert that the uptick in open interest is primarily a result of organic growth, fueled by positive market sentiment regarding future price appreciation. Furthermore, as of November 22nd, a decline in open interest was observed, particularly near the $94,000 threshold, which saw a considerable number of orders executed. Analysts concluded that the recent activities involving leveraged accumulation are within normal parameters, with anticipated price corrections likely to occur around the $93,000 mark.
Source: https://en.coinotag.com/breakingnews/bitcoin-futures-open-interest-surges-to-60-9-billion-post-trump-victory-analyst-insights-on-leveraged-trading/