Bitcoin volatility not shaking investor interest, recent dip sees $500M evaporation without major trend shift

• Bitcoin's open interest experienced substantial growth, followed by a contraction due to a flash crash in its value.
• The flash crash led to an approximate evaporation of half a billion dollars in open interest.
• Despite the dip, the overall open interest trends were not significantly altered.
• Bitcoin's open interest remains within the 1.8%-2% range of the market cap, aligning with the peak of the current channel.
• Over the past six weeks, Bitcoin's open interest has seen a steady growth of 6%, indicating continuous investor interest in the cryptocurrency.
• The cyclical pattern of open interest growth and shrinkage, combined with market cap fluctuations, highlights the unpredictable nature of the cryptocurrency market.

The article provides a neutral analysis of Bitcoin's open interest growth and shrinkage, emphasizing the unpredictability of the cryptocurrency market.