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Open interest in bitcoin futures listed on the Chicago Mercantile Exchange (CME) have doubled in the first few days of the year, as noted by data analytics firm Skew.
Bitcoin's dramatic overnight fall from $9,200 is telling a tale of buyer exhaustion.
Rewards received by bitcoin miners form a major chunk of the salaries paid across major proof of work (PoW) blockchains, according to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest.
Bitcoin's bulls are showing signs of exhaustion, having engineered a speedy rally to $8,900.
Crypto perpetuals exchange Blade will be introducing zero-fee trading next month in a bid to gain market share from rivals.
Tuesday's sharp rise looks to have put bitcoin on path toward the 200-day average at $9,100.
Options on bitcoin futures from Chicago Mercantile Exchange got off to a good start on Monday, seeing trading volume reach 55 contracts in the opening session.
A bitcoin chart indicator is about to turn bearish for the first time since June 2018, but should have little effect on prices.
Bitcoin's six-month downtrend looks to have ended with last week's double-digit price gain.