🐋 WHALE WATCH : BTC options open interest is rebounding quite strongly. Looking at the chart the total Bitcoin Options OI has now turned back up to the range of about 40 to 45 billion USD after having dropped significantly from the peak above 60 billion USD. Notably OI is recovering while BTC is also bouncing back around the 80000 USD level. This indicates that activity in the options market is heating up and more positions are being opened. However an increase in OI doesnt automatically mean BTC will rise. It just shows that capital and positions are accumulating more substantially meaning the subsequent fluctuations are even more worth watching. Is BTC gearing up for a major breakout or is the derivatives market just getting too crowded again ?(Whale Factor)