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Bitcoin open interest matches record high amid predictions of BTC price 'fireworks' this month
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Bitcoin (BTC) is in line for "explosive" price action as derivatives markets return to form in 2022, a new forecast states.
In a tweet on Jan. 4, Vetle Lunde, an analyst at Arcane Research, confirmed that BTC denominated open interest (OI) had returned to all-time highs seen in November.
Bitcoin futures and options have taken a beating during the end-of-year BTC/USD retracement, but as the holiday period ended, consensus began to form around a major comeback.
Institutional traders should become the major force on Bitcoin markets, some say, and derivatives are already showing signs of that renewed interest.
OI is now back at the levels it last hit in week three of November when BTC/USD itself reached all-time highs of $69,000.
Unlike then,
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