Bitcoin Futures and US Fiscal Uncertainty

SOURCE cointelegraph.com
Bitcoin futures open interest hits a record high of $72 billion, driven by institutional investors and US fiscal uncertainty. Bearish positions at risk of liquidation could boost BTC's breakout odds.

Key Points

  • Bitcoin futures open interest reaches $72 billion
  • Institutional demand drives leverage in BTC futures
  • Bearish positions between $107,000 and $108,000 at risk of liquidation
  • US Treasury yields rise, potentially pushing investors towards Bitcoin as a hedge

Pros

  • Rising institutional demand for Bitcoin futures
  • Potential for BTC price breakout due to leveraged positions

Cons

  • Uncertainty surrounding US fiscal debt and economic growth