BlockBeats News, March 20th, CoinGlass stated in a post, “During yesterday’s price drop, the Bitcoin open interest (OI) actually increased as the price fell, indicating that the shorts were clearly adding to their positions, forming a relatively clean short-selling entry. This trend eventually touched near $68,750.”
Currently, the price is rebounding, but the OI has hardly changed significantly, which usually means that this rebound is not driven by new long positions. Therefore, the current situation is more like a range-bound movement rather than a clear trend reversal. The next focus should be on the change in Bitcoin price and OI.”
