Data shows the Bitcoin Open Interest has shot up to a new all-time high (ATH), implying speculative interest around BTC has surged.

Bitcoin Open Interest Has Risen Alongside Price Rally

As explained by CryptoQuant community analyst Maartunn in a new post on X, the Bitcoin Open Interest has seen a sharp surge recently. The “ Open Interest ” here refers to an indicator that keeps track of the total amount of BTC-related positions that are currently on all derivatives exchanges.

When the value of the metric rises, it means the investors are opening fresh positions related to the asset. Generally, more positions come up with more leverage for the sector, so the cryptocurrency’s price can become more volatile following an Open Interest jump.

On the other hand, the indicator going down i

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