Bitcoin's price has rebounded significantly, increasing by 25% after a steep decline in early September. Current market indicators point to a continuation of the trend.

Bitcoin Open Interest Hits All-Time Highs

The open interest weighted funding rate for perpetual futures has reached a recent high of 0.0136%, indicating bullish market sentiment. It is important to exercise caution due to the volatility of the cryptocurrency market.

Bitcoin Supply on Exchanges Downtrend Continues

The amount of Bitcoin on centralized exchanges has decreased by 20% since July 2021. Traders favor holding their Bitcoin, hinting at the continuation of the 2024 bull run.

Increasing Demand for Spot Bitcoin ETFs

Spot Bitcoin ETFs are experiencing positive inflows. According to SoSoValue Investors, significant capital inflows have been recorded over the past seven days, demonstrating institutional interest.

Bitcoin continues to gain popularity with both individual and institutional investors. The overall indicators suggest a potential ongoing bullish trend, which could lead to new price highs.