Bitcoin Braces for Volatility as Derivatives Interest Nears Record Highs
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Bitcoin fell toward $34,500 on Nov. 7 as analysts noted mushrooming open interest.
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Open interest on derivatives markets neared $15.5 billion, sparking predictions of impending volatility.
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CME and Binance open interest hit new records, signaling rising institutional involvement.
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Historically, open interest above $12.2 billion preceded 20%+ Bitcoin price drops.
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Analysts suggest $36,000 will remain a ceiling for Bitcoin price this week.