Bitcoin (BTC) Eyes $90,000 Break as Open Interest Tops $140 Billion

Bitcoin is trading at $81,615 after a small pullback from the $84,000 area. The price sits right at the 50-day moving average near $80,800, a level that has held through October. At the same time, futures open interest has climbed above $140 billion, which is near the highest level on the chart . Open interest shows investors are returning. It measures the total value of open futures contracts, and when it rises, more money is entering the market. The chart shows a steady climb since mid-August, when Bitcoin jumped from about $64,000 to above $80,000. Since then, open interest has moved from around $110 billion to the current level of more than $140 billion.

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