Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says “Hard To Be Bearish”

Data shows the Bitcoin Open Interest as a percentage of its market cap has been at lows recently, a sign the derivatives side has been healthy.
Bitcoin Open Interest Is Now Less Than 2% Of The Market Cap
As explained by analyst James Van Straten in a new post on X, the derivatives side of the market has looked “extremely healthy” while BTC’s latest recovery has occurred.
The metric of interest here is the “Open Interest,” which keeps track of the total amount of der