Bitcoin futures' open interest saw the largest daily increase in over four months, with an increase of over 20,000 BTC, indicating growing market interest.
High open interest suggests that new money is entering the market, which bodes well for trend strength and indicates significant trader interest in BTC.
Although BTC futures show strong interest, the current low funding rates suggest tempered demand among traders, pointing to potential volatility in the market.
QCP Capital expressed a bullish outlook for Bitcoin, linking anticipated stock performance and political events to potential substantial price gains in the near term.
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