The current price of Bitcoin has not yet reached a new historical high.

However, the open interest on CEX has already set a new record.

The recent back-and-forth market movements haven't significantly reduced the open interest.

Both bulls and bears seem to be heavily betting on the future market, accumulating strength for a big move…

The open interest on CEX exchanges mainly focuses on BN and CME, while DEX is dominated by HYPE.

Hype has once again seen giant whales betting on large long positions; will they be targeted?

Or will the upward trend start and lead to a direct surge, forcing a short squeeze?

Observing the funding rates, there is no bullish sentiment, and the bears lack strength.

It feels like both sides are trapped in a balance at this position.

But it also feels like a storm is brewing…

Is this the calm before the storm?

BTC

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