{"id":575107,"date":"2024-02-14T20:30:43","date_gmt":"2024-02-14T20:30:43","guid":{"rendered":"https:\/\/wncen.com\/?p=575107"},"modified":"2024-06-11T08:15:27","modified_gmt":"2024-06-11T08:15:27","slug":"bitcoin-open-interest-2-year-high-btc-breaks-51000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","title":{"rendered":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000"},"content":{"rendered":"

Bitcoin’s open interest has <\/span>surged<\/span><\/a> past $11 billion for the first time in over two years. This uptick comes when the world’s most valuable coin surges, recently easing past $51,000, the highest level since December 2021.\u00a0<\/span><\/p>\n

\"Bitcoin
Bitcoin open interest | Source: Kaiko on X<\/figcaption><\/figure>\n

Surging Open Interest And Order Book Imbalance<\/span><\/h2>\n

According to Kaiko, a leading crypto analytics provider, this upswing in open interest comes at a critical time for the coin. When prices zoomed past $48,000 on February 11, there was an order book imbalance. Then, Kaiko observed there were $100 million more bids than asks.\u00a0<\/span><\/p>\n

\"BTC
BTC ask-bid imbalance | Source: Kaiko on X<\/figcaption><\/figure>\n

Technically, whenever there is an order book imbalance with more bids than asks, it suggests that buyers are more willing and enthusiastic to purchase at spot rates than sellers are willing to liquidate. Following this imbalance, prices shot higher the following days, <\/span>breaking above the $50,000 psychological number to over $51,500 when writing on February 14.\u00a0<\/span><\/p>\n

Related Reading: Avalanche Rumbles: AVAX Eyes To Reclaim $50 As Upgrade Fuels Optimism On Testnet<\/a><\/div>\n

Surging open interest, especially as the market trends higher, is bullish. It means that more people are willing to participate in the market, hopeful of riding the trend. Subsequently, their participation translates to a more liquid market, charging the upside momentum.<\/span><\/p>\n

Bitcoin is racing higher at the back of strong inflows into spot Bitcoin exchange-traded funds (ETFs). Over the past few weeks, spot Bitcoin ETF issuers have been rapidly accumulating the coin. The largest so far is BlackRock’s IBIT, owning over 70,000 BTC.<\/span><\/p>\n

As a result, prices are edging higher, reflecting the high demand pinned directly to institutional participation. This positive sentiment and expectations of even more price gains, translating to higher open interest, is despite the continued liquidation of the Grayscale Bitcoin Trust (GBTC<\/a>). Following court approval, GBTC is converted into an ETF, joining others like Fidelity, who also offer a similar product.<\/span><\/p>\n

Genesis Looking To Sell GBTC; Will Bitcoin Rally In March?<\/span><\/h2>\n

Even with the high optimism, a potential cloud hangs over the Bitcoin market. Genesis, a crypto lender under bankruptcy protection, wants the court to allow them to sell over $1.4 billion of GBTC. <\/span><\/p>\n

Related Reading: XRP Price Could Surge from New Acquisition, Amid Community Skepticism<\/a><\/div>\n

If the court green-lights this move, BTC could have more liquidation pressure, possibly unwinding recent gains. So far, the FTX estate sold their GBTC, estimated to be worth over $1 billion, coinciding with Bitcoin dropping to as low as $39,500 in January.<\/span><\/p>\n

\"Bitcoin<\/a>
Bitcoin price trending upward on the daily chart | Source: BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

Besides these Bitcoin-specific events, the market is closely watching how the monetary policy scene in the United States will evolve in the next few weeks. The United States Federal Reserve is expected to slash rates in March, a potentially beneficial move for BTC.<\/span><\/p>\n

Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s open interest has surged past $11 billion for the first time in over two years. This uptick comes when the world’s most valuable coin surges, recently easing past $51,000, the highest level since December 2021.\u00a0 Surging Open Interest And Order Book Imbalance According to Kaiko, a leading crypto analytics provider, this upswing in open interest comes at a critical time for the coin. When prices zoomed past $48,000 on February 11, there was an order book imbalance. Then, Kaiko observed there were $100 million more bids than asks.\u00a0 Technically, whenever there is an order book imbalance with more bids than asks, it suggests that buyers are more willing and enthusiastic to purchase at spot rates than sellers are willing to liquidate. Following this imbalance, prices shot higher the following days, breaking above the $50,000 psychological number to over $51,500 when writing on February 14.\u00a0 Related Reading: Avalanche Rumbles: AVAX Eyes To Reclaim $50 As Upgrade Fuels Optimism On Testnet Surging open interest, especially as the market trends higher, is bullish. It means that more people are willing to participate in the market, hopeful of riding the trend. Subsequently, their participation translates to a more liquid market, charging the upside momentum. Bitcoin is racing higher at the back of strong inflows into spot Bitcoin exchange-traded funds (ETFs). Over the past few weeks, spot Bitcoin ETF issuers have been rapidly accumulating the coin. The largest so far is BlackRock’s IBIT, owning over 70,000 BTC. As a result, prices are edging higher, reflecting the high demand pinned directly to institutional participation. This positive sentiment and expectations of even more price gains, translating to higher open interest, is despite the continued liquidation of the Grayscale Bitcoin Trust (GBTC). Following court approval, GBTC is converted into an ETF, joining others like Fidelity, who also offer a similar product. Genesis Looking To Sell GBTC; Will Bitcoin Rally In March? Even with the high optimism, a potential cloud hangs over the Bitcoin market. Genesis, a crypto lender under bankruptcy protection, wants the court to allow them to sell over $1.4 billion of GBTC. Related Reading: XRP Price Could Surge from New Acquisition, Amid Community Skepticism If the court green-lights this move, BTC could have more liquidation pressure, possibly unwinding recent gains. So far, the FTX estate sold their GBTC, estimated to be worth over $1 billion, coinciding with Bitcoin dropping to as low as $39,500 in January. Besides these Bitcoin-specific events, the market is closely watching how the monetary policy scene in the United States will evolve in the next few weeks. The United States Federal Reserve is expected to slash rates in March, a potentially beneficial move for BTC. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":574869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,78790,7558,15593,89583],"class_list":["post-575107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-gbtc","tag-genesis","tag-spot-bitcoin-etfs"],"acf":[],"yoast_head":"\nBitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-14T20:30:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:15:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000\",\"datePublished\":\"2024-02-14T20:30:43+00:00\",\"dateModified\":\"2024-06-11T08:15:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\"},\"wordCount\":498,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"BTCUSDT\",\"gbtc\",\"genesis\",\"spot Bitcoin ETFs\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\",\"url\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\",\"name\":\"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\",\"datePublished\":\"2024-02-14T20:30:43+00:00\",\"dateModified\":\"2024-06-11T08:15:27+00:00\",\"description\":\"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\",\"width\":1792,\"height\":1024,\"caption\":\"Bitcoin price prediction\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\",\"name\":\"Dalmas Ngetich\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"caption\":\"Dalmas Ngetich\"},\"description\":\"Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/\",\"https:\/\/x.com\/Dalmas_Ngetich\"],\"url\":\"https:\/\/wncen.com\/author\/dalmasngetich\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000","description":"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000","og_description":"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000","og_url":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-02-14T20:30:43+00:00","article_modified_time":"2024-06-11T08:15:27+00:00","og_image":[{"width":1792,"height":1024,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","type":"image\/jpeg"}],"author":"Dalmas Ngetich","twitter_card":"summary_large_image","twitter_creator":"@Dalmas_Ngetich","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Dalmas Ngetich","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/"},"author":{"name":"Dalmas Ngetich","@id":"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586"},"headline":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000","datePublished":"2024-02-14T20:30:43+00:00","dateModified":"2024-06-11T08:15:27+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/"},"wordCount":498,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","keywords":["bitcoin","bitcoin price","btc","BTCUSDT","gbtc","genesis","spot Bitcoin ETFs"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","url":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","name":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","datePublished":"2024-02-14T20:30:43+00:00","dateModified":"2024-06-11T08:15:27+00:00","description":"The Bitcoin open interest has\u00a0surged\u00a0past $11 billion for the first time in over two years. BTC, on the other hand, is above $51,000","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","width":1792,"height":1024,"caption":"Bitcoin price prediction"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586","name":"Dalmas Ngetich","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g","caption":"Dalmas Ngetich"},"description":"Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000","url":"http:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusdt","gbtc","genesis","spot bitcoin etfs"],"dateCreated":"2024-02-14T20:30:43Z","datePublished":"2024-02-14T20:30:43Z","dateModified":"2024-06-11T08:15:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-open-interest-2-year-high-btc-breaks-51000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-open-interest-2-year-high-btc-breaks-51000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/DALL\\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/DALL\\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusdt\",\"gbtc\",\"genesis\",\"spot bitcoin etfs\"],\"dateCreated\":\"2024-02-14T20:30:43Z\",\"datePublished\":\"2024-02-14T20:30:43Z\",\"dateModified\":\"2024-06-11T08:15:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/DALL\u00b7E-2024-02-13-13.18.22-A-panoramic-view-featuring-a-golden-Bitcoin-symbol-centrally-located-surrounded-by-a-dynamic-digital-landscape.-This-futuristic-environment-includes.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/575107"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=575107"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/575107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/574869"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=575107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=575107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=575107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}