Bitcoin open interest surge past $35B raises 'overheating' concerns

Bitcoin’s recent surge in open interest beyond $35 billion has analysts worried about potential signs of froth in the market.

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The recent surge in Bitcoin (BTC) open futures contracts has analysts concerned that the market might be showing signs of frothiness.

“BTC open interest (OI) has surged, exceeding $35 billion, a level that has historically correlated with local price peaks,” Bitfinex analysts declared in an Oct. 1 report.

Bitcoin OI has fallen approximately 9% since crossing the $35 billion mark. Source: CoinGlass

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