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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

This Bitcoin Metric Is Over 100% Higher in 2 Months, and It’s Critical for Bulls

Nick Chong
Nick Chong
1 year ago
3 mins read

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.

Over the past 60 days, Bitcoin has found itself rocketing higher, rallying from a low of $6,400 to a local top of $10,500 in the span of two months.

Related Reading: Ethereum Explodes 15% Higher to $250 in 1 Day: Are More Gains Imminent?

Bitcoin’s Booming Open Interest May Set Stage for Surge

Over the past few years, as institutional traders and more serious players have entered the Bitcoin market, the demand for future derivatives for the cryptocurrency has exploded.

This was confirmed with a report from industry outlet The Block.

They reported that as of February 13th, the aggregated amount of open interest on Bitcoin futures contracts surpassed $5 billion, with traders on BitMEX, OKEx, Bakkt, CME, and other key platforms throwing billions of dollars at the asset.

This is far above the approximately $4 billion in open interest seen in January of the $2.5 billion in December.

Aggregated open interest for Bitcoin futures has surpassed $5 billion on Feb. 13, according to data compiled by The Block. https://t.co/qnHn2h5K91 pic.twitter.com/bnCo7ywTl6

— The Block (@TheBlock__) February 14, 2020

The massive eruption in the open interest seen in Bitcoin futures contracts could have an extremely positive effect on the underlying market.

The below chart — which shows what trends in an asset’s volume, open interest, and price means for said asset’s future trajectory — indicates that the most optimistic scenario for any market is if the asset’s price, volume, and open interest for its futures market rise in tandem, suggesting “strength,” “bullish” price action, and an overall trend of prices rising.

The Explosion In This One Metric Is Bullish for Bitcoin's Price 1

As can be seen, the past few months have seen open interest in Bitcoin futures erupt higher. This, of course, comes on the back of an uptick in volume as investors re-enter the cryptocurrency markets and a decisive uptrend forming in the trading value of digital assets.

The simultaneous growth of these three metrics would suggest Bitcoin is on the verge of an even greater bull run than what was already seen.

Far From the Only Bullish Sign

This is far from the only thing that has Bitcoin bulls enthused.

Prominent trader Sawcruhteez recently noted that the three-day Ichimoku Cloud for Bitcoin is now “fully bullish,” with prices breaking through the cloud resistance and with the future cloud twisting positive. The indicator signaled a buy at $10,268, suggesting more upside is imminent.

The 3D Ichimoku Cloud (traditional settings) is now fully bullish and it recently signaled a buy at $10,268. $BTC pic.twitter.com/YrZgDY7wVI

— Tyler Coates (@Sawcruhteez) February 12, 2020

Sawcruhteez called Bitcoin’s reversal at the start of the year, saying he expected for the asset to trade in the mid-$9,000s by the middle of the month (he was proven correct).

Also, Crypto Bull  noted that with BTC’s latest price action, the price of the cryptocurrency has, for the first time ever, broken above a downtrend that has constrained prices since the $20,000 top seen in December 2017.

The fact that Bitcoin is now past this key resistance, the analyst who pointed it out wrote, is a sign that “short liquidations are coming” and a potential sign that the “biggest weekly green candle in Bitcoin’s history” is right on the horizon.

Featured Image from Shutterstock
Tweet123Share221ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

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

BTC, Bitcoin

Bitcoin Near Historic Weekly Close Despite Drop – Analyst Warns Of Volatile Weekend

As the market sees a Friday retrace, Bitcoin (BTC) is attempting to reclaim a crucial area as support. An analyst...

Rubmar Garcia 4 hours ago
Dogecoin

Dogecoin Social Surge: Rising Buzz And Network Use Spark New Interest

Dogecoin’s price action caught traders’ attention this week. After dipping toward the $0.13–$0.15 demand zone, the meme‑coin shot higher, and...

Christian Encila 7 hours ago
Giełda krypto Bitunix laptop interfejs

Giełda Bitunix integruje TradingView. Nowy lider na rynku krypto?

Rynek kryptowalut zmienia się w zawrotnym tempie. W środowisku, gdzie czas to pieniądz, niezbędna staje się platforma, która nie tylko...

News BTC 7 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

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Sebastian Villafuerte 1 hour ago

比特幣ETF年化收益超越標普500 7月最值得買入預售項目錯過升10倍肯定後悔 

Kelvin Lee 1 hour ago
Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction

Ethereum Wave Count Predicts Price Crash To $1,800 — But $6,000 Is Still In Play

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    2 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    2 hours ago
  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    19 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    20 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    20 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.