NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Open Interest May Act as Rocket Fuel for Explosive Bull Movement

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin (BTC) has been caught in a period of sideways trading over the past several days and weeks, as it has been unable to garner any significant and sustainable upwards momentum in spite of the strong support that it has established at $8,700.

Bitcoin’s open interest, however, may point to an underlying strength for the cryptocurrency, and according to one analyst could signal that someone is about to “light a match to some rocket fuel” that could send BTC’s price surging higher in the near-term.

Bitcoin Consolidates Around $8,700 as Bulls Fail to Spark Upwards Momentum

At the time of writing, Bitcoin is trading down 1% at its current price of $8,710, which marks a slight decline from its daily lows of over $8,800 that were set yesterday.

Despite the lackluster price action currently seen by BTC, it is important to note that $8,700 has consistently proven to be a strong region of support for the cryptocurrency, and it is unlikely that this level will be broken below unless bears garner some sort of significant momentum.

As for where Bitcoin’s near-term resistance lies, it has been rejected on multiple occasions over the past couple of weeks within the lower-$9,000 region, which signals that sellers are firmly in control of this price region for the time being.

Does BTC’s Open Interest Signal That Bull Run is Inbound?

In spite of the lack of buying pressure currently seen by Bitcoin, it is important to note that BTC’s open interest is currently point to some underlying bullishness.

Mr. Anderson, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that a big movement is imminent for the cryptocurrency.

“$BTC Open Interest: Don’t fall asleep and Don’t blink! Open Interest tells me that someone will light a match to some Rocket Fuel soon. Liquidations are coming soon,” he explained while pointing to the chart seen below.

$BTC Open Interest

Don't fall asleep and Don't blink!

Open Interest tells me that someone will light a match to some Rocket Fuel soon.

Liquidations are coming soon pic.twitter.com/iEhaE9eUfj

— Mr. Anderson (@TrueCrypto28) November 14, 2019

Cantering Clark, another popular analyst, further elaborated upon this notion, telling his followers that aggressive bulls have been buying each price dip, which means that the crypto’s local support could be stronger than it is widely thought to be.

“1/1- I get the impression that much of this open interest increase is attributed to aggressive bulls, it would seem as though they are buying every dip. Premium supports that thesis. If that be the case I doubt our local support is more than butter. $BTC,” he said while referencing the chart seen within the below tweet.

https://twitter.com/CanteringClark/status/1194954890998669313

Assuming that Bitcoin continues holding strong above $8,700, it is reasonable to assume that bulls will soon flex their strength and send the crypto flying past its near-term resistance regions.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin has reached new milestones this week, briefly breaking above the $123,000 mark earlier today before retracing slightly to $121,812...

Samuel Edyme 1 hour ago
Bitcoin

Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Bitcoin (BTC) has reignited market excitement after smashing through the $123,000 level. Currently, technical indicators, surging liquidity, and macroeconomic tailwinds...

Scott Matherson 2 hours ago
Cardano price news

Cardano Flashes Major Buy Signal—$1.90 Target Unleashed

Crypto analyst Investing Broz has spotlighted Cardano (ADA) as one of the most promising altcoins currently breaking out amid a...

Jake Simmons 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

Mark Mak 52 minutes ago
Bitcoin

Bitcoin Hits $123,000—But Inflows Are Just A Fraction Of 2024’s Peak

Keshav Verma 52 minutes ago

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

estherw 1 hour ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    52 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    6 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    7 hours ago
  • Bitcoin Hyper

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.