Bitcoin Nears New All-Time High as Open Interest Surges

Bitcoin is approaching new all-time highs, currently testing $123,348 resistance, fueled by rising open interest and strong institutional demand. The market structure remains bullish, with consecutive higher highs and higher lows supporting a potential breakout toward $131,000.

🔑 Key Highlights:

Price Action: BTC defends key channel lows and rallies toward $123,348 resistance.

Bullish Structure: Consecutive higher highs and lows indicate a sustainable uptrend.

Open Interest: Rising positions confirm strong demand from traders and institutions.

Targets: If BTC breaks $123,348 decisively, next potential resistance lies at $131,000; some analysts project $231K in the long term.

The alignment of price momentum, structural support, and increasing market participation suggests Bitcoin could continue its bullish trajectory.