Bitcoin’s price may continue to drop as open interest in the market remains at an “unusual” level, according to CoinGlass. The cryptocurrency platform reports that there is still room for a further decline in Bitcoin’s value.
This news comes as the market remains uncertain and volatile, with many investors unsure of which direction Bitcoin will take next. The high open interest suggests that there is a significant amount of money at stake, which could lead to further price movements.
While it is difficult to predict exactly where Bitcoin’s price will go next, experts are warning investors to proceed with caution. The market’s unpredictability and the potential for further declines mean that now may not be the best time to invest in Bitcoin.
Overall, it is essential for investors to stay informed and monitor the market closely to make informed decisions about their investments. Bitcoin’s future remains uncertain, and it is crucial to be prepared for any potential price movements in the coming days.