Bitcoin Price Could Be Preparing For Fresh Wave Of Volatility — Here’s Why
Bitcoin has shown sluggish price action, trading between $92,000 and $95,000 as of May 17, following a poor performance during the week. Doubts are emerging about Bitcoin reclaiming its all-time high of $108,786. On-chain data indicates potential significant price movements in the coming weeks. The open interest (OI) metric, which measures money flowing into BTC derivatives, is exhibiting patterns linked to major price shifts. The 30-day Open Interest Delta has reached levels similar to those before Bitcoin's rise to $73,737 in 2024, suggesting a possible cyclical change. The 180-day Open Interest Delta, currently just above negative territory, indicates potential increased volatility or a new consolidation phase. As of now, Bitcoin's price is approximately $103,367, reflecting a 0.4% decline in the last 24 hours.
