Bitcoin's Price Stabilizes, Open Interest Surges Over 13% on March 14, Signaling Potential Bullish Momentum

On March 14, Bitcoin's price showed signs of stabilization, briefly crossing $85,000 after a turbulent start to the week. Data from CryptoQuant revealed a notable upswing in Bitcoin open interest (OI), rising to $27.9 billion, a 13% increase (over $3.3 billion) from its recent low. This increase suggests investors are opening new positions in the futures and options market, indicating growing confidence or speculation in Bitcoin's price. Increased open interest could heighten market volatility, potentially leading to large price movements. As of today, Bitcoin is around $84,500, reflecting an almost 5% increase in the past 24 hours.