On November 29th, COINOTAG News reported that recent analysis from Block Scholes and Bybit Analytics highlights a significant shift in **Bitcoin open interest contracts**. This decline seems to stem from **traders recalibrating their positions** following a comprehensive evaluation of market trends rather than indicating a widespread liquidation event. A representative from Bybit elucidated that this strategic adjustment could pave the way for a potential upsurge in **Ethereum’s price**, possibly exceeding **$4,000**, as observers rally their attention toward January 20th, coinciding with the inauguration of Donald Trump. This insight brings to light the intricate dynamics within the cryptocurrency market, suggesting that traders are not merely reacting to volatility but are instead making informed decisions that could influence **market momentum** in the coming weeks.
Source: https://en.coinotag.com/breakingnews/bitcoins-open-interest-decline-signals-market-repositioning-could-boost-ethereum-above-4000-by-january/