🥳 Bitcoin ($76,070) & Ethereum ($2,395) have both hit their highest market values since the beginning of February. This rebound is coming with increased optimism, as margin & leveraged positions are being created rapidly.

📈 $BTC: +59% Open Interest in 7 weeks

📈 $ETH: +45% Open Interest in 7 weeks

🤔 This reflects growing trader conviction, but also introduces higher risk, as crowded leveraged trades can quickly unwind. When open interest climbs alongside prices, markets often become more volatile, with sudden squeezes in either direction becoming more likely.

🔗 Traders are now feeling confident enough to take on increased risk. Follow along and see how open interest impacts liquidation events in the coming days and weeks here on this Santiment chart!