bullish

Bitcoin

Billion

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<p dir="ltr">Bitcoin (BTC) bulls have started to push the price higher after yesterday’s minor price dip. They have been showing great interest as the trading activity is surging today. It is a watershed moment as the BTC price needs this backing from bulls on the market.</p>
<p dir="ltr">The trading volume of Bitcoin, per&nbsp;<a href="https://www.coinglass.com/currencies/BTC" rel="noopener noreferrer nofollow">CoinGlass</a>, has soared 25.61%. Traders have injected almost $83 billion into the market in the last 24 hours. With this support from the bulls, the total market capitalization of BTC currently stands at $1.27 trillion.</p>
<p dir="ltr">Crypto exchange Binance, with a volume of $23.56 billion, is leading the pack in terms of experiencing the most trading activity for Bitcoin. It is followed by Bitget at $14.51 billion, Bybit at $11.07 billion and OKX at $10.77 billion, among others. This means that the leading cryptocurrency in the market is surging in volume across all major platforms.</p>
<h2 dir="ltr" id="bitcoin-witnesses-major-bullish-signals">Bitcoin witnesses major bullish signals</h2>
<p dir="ltr">Amid rising trading activity, the Options Open Interest (OI) of BTC has also seen a major boost during this time. As of now, the OI has surged 2.18% to $10.24 billion. It shows that there is a big surge in the number of options contracts held by BTC traders in active positions.</p>
<p dir="ltr">It should be noted that this rising OI means that current&nbsp;<a href="https://u.today/xrp-sees-strongest-bullish-sentiment-in-more-than-a-year" rel="noopener noreferrer nofollow">market sentiment</a> is optimistic. Moreover, it indicates that investor confidence is pushing the price to higher levels. High OI is a crucial indicator as it pinpoints the continuation of this bullish trend on the market.</p>
<h2 dir="ltr" id="bitcoin-price-rally-scenario">Bitcoin price rally scenario</h2>
<p dir="ltr">As of writing this story, the price of BTC is at $64,451. It has witnessed a minor dip of 0.03% in the last 24 hours. However, the broader trend remains positive as the BTC price is still up 3.04% over the last 30 days. Moreover, the price is still up 119.03% in the past year.</p>
<p>Seeing all these indicators and figures, it will not be wrong to say that Bitcoin is not in a bearish trend. The&nbsp;<a href="https://u.today/time-to-pay-attention-john-bollingers-bitcoin-price-outlook-update" rel="noopener noreferrer nofollow">broader outlook</a> is strongly bullish, and the resurgence of bulls only supports this Bitcoin outlook. Overall, BTC appears to be heading toward the next higher levels.</p>

$83 Billion in Bitcoin (BTC) in 24 Hours: What's Happening?

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