Glassnode: Bitcoin’s Current Rally Driven by Bullish Inflows, Open Interest Rises in Tandem

BlockBeats News, July 10 — Glassnode stated in a recent post that during the latest Bitcoin (BTC) rally to $112,000, short sellers have once again suffered losses, but this time there is also clear evidence of traders actively entering the market. Unlike the late June rally, which saw a significant drop in open interest (OI), this surge has been accompanied by a rise in open interest positions—indicating that new long positions are being established in the market, rather than the price increase being driven solely by short covering.