The total Bitcoin contract holdings across the network have reached a historic high, which may indicate that the price of the coin is about to break through

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Bitget2024/07/29 10:23

BlockBeats reports that on July 29, according to CoinGlass data, the current total Bitcoin futures holdings reached $39.46 billion, surpassing the historical high of $39.03 billion set on March 29, 2024.

Analysts point out that this indicates an increased interest in Bitcoin among investors and may signal a breakthrough to new all-time highs for Bitcoin.

In addition, over 75% of short-term Bitcoin holders made a profit on July 24. This could translate into greater upward momentum for Bitcoin as short-term data is often used to measure retail demand for Bitcoin. (Cointelegraph)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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