Why the Bitcoin rally might not end anytime quickly
Open Interest in BTC grew regardless of a rise in rate.
USDT whales might collect big quantities of BTC moving forward.
When Bitcoin [BTC] was at $25,000 a couple of weeks back, lots of traders felt that it was a chance for them to get BTC at a discount rate. As BTC's cost skyrocketed, lots of felt that there would be a correction quickly.
Open Interest grows
The continuous development in open interest over the previous week is an aspect supporting the sustainability of this Bitcoin rally. It suggests area build-up, with open interest reaching levels equivalent to those in October when the cost stood at $25,000.
Source: coinglass
The increasing open interest in Bitcoin over the previous week recommends a shift towards area build-up. Area build-up normally indicates that financiers are obt...