Glassnode: Bitcoin's recent rise is driven by long positions entering the market, with open contract positions rising simultaneously

BlockBeats news, on July 10th, Glassnode posted that in the latest round of Bitcoin (BTC) rising to $112000, short sellers have once again been hit, but this time it can also be seen that traders are actively entering the market. Unlike the significant decrease in open interest (OI) during the late June uptrend, the open interest positions in this uptrend have actually increased - indicating a new trend of long positions in the market, rather than just an increase caused by short covering.