Bitcoin has reached an unprecedented all-time high of $97,836, a significant milestone in the cryptocurrency market. This surge has been largely fueled by remarkable open interest in Bitcoin futures, suggesting that more traders are looking into the potential profit from Bitcoin's price movements.
Additionally, the inflows of stablecoins into exchanges have increased, pointing to a growing demand for Bitcoin. The stablecoin inflows suggest that investors are converting their stablecoin holdings into Bitcoin, which often indicates optimism about Bitcoin's future price trajectory.
The combination of high open interest in futures and increased stablecoin inflows signals a robust demand for Bitcoin, driving its price to new heights.
