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Analyst: Bitcoin open interest hits new high, market bullish sentiment surges
According to ChainCatcher news and a report by Forbes, with the increase in market sentiment, the price of Bitcoin is on the rise, and its open interest has also reached an all-time high. Greg Magadini, the derivatives director at Amberdata, stated that the total nominal interest rate of Bitcoin-related futures has climbed to a record high, indicating a very optimistic market outlook for Bitcoin. Moreover, the open interest of futures contracts in the entire Crypto Assets market has also set a new record. Analyst Paul Howard believes that Bitcoin volatility may rise as options expiration approaches, and current options market data shows a large open interest in call options, reflecting a general bullish sentiment.