The dollar value locked in the number of open bitcoin (BTC) futures contracts is rising, signifying increased speculative interest in the market and potential for price volatility.
Data from CoinGlass shows the nominal value of open interest has reached a yearly high of $12 billion, marking a 7% gain for the month.
In the past month, bitcoin's price has rallied 15%, to $28,439 thanks to an increasing appetite for risk assets and a "flight to quality" within crypto.
(By Sam Reynolds)
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