Is Rising Bitcoin Futures Open Interest Cause For Concern?

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Aggregate bitcoin futures open interest rise is slightly below all-time levels made at the local bitcoin market top in April. Is this cause for concern? 

While futures open-interest and leveraged bets favoring the long side have certainly increased over the recent weeks with bitcoin’s feverish rally past previous all-time highs, there are a few key distinctions between the market structure in April versus what we are seeing now. 

Source: Glassnode

Source: Glassnode

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