According to CoinGlass, some analysts at Rekt Capital believe that $71,500 is the next major target for the price of BTC. On March 14, the coin’s value was 5.8% higher than when it peaked at about $73,750.Bitcoin saw 9.46 billion in investments last month.
On March 29, 2024, the most spent was $39.03 billion. However, as more people look for the world’s most valuable coin, it may soon lose some of its value. There are still some Bitcoins out there.
Bitcoin’s Open Interest And Market Dynamics Explained
This is known as “open interest.” This is important since it shows that the market is open and full of people. There is “open interest” when many people want to buy something.
To put it another way, they spend more. The coin is worth more now. A lot of people are interested, so the market does well.
On July 24, people who had just started using Bitcoin were already making money, which made many people want it.
CEO of The CryptoVerse, Benjamin Cowen, also talked about how Bitcoin is starting to change the market. This means BTC might have the power to change the market’s value.
Rekt Capital believes that BTC will hit a new high of $71,500. When it was first created, the coin was worth more than $73,750. However, it still lost 5.8% of its value on March 14.
