CME Open Interest Drops to Three-Year Lows as BTC Faces Key

CME open interest for BTC hits three-year lows, indicating potential volatility as Bitcoin tests critical support levels. Here's what to watch. Bitcoin is currently testing a critical support level as CME open interest has plunged to three-year lows. This decline in open interest, coupled with increasing perpetual leverage, indicates heightened market volatility ahead. As the U.S. midterms approach, traders are keenly monitoring BTC’s performance, with many anticipating a significant price movement. For further insights, see K33 Research’s tweet. The current market context shows Bitcoin hovering near the $65,000 mark, a pivotal resistance level.