#VietnamCryptoPolicy

Geopolitical tensions are once again shaking the crypto market. Israel's airstrike on Iran some time ago triggered a sharp correction in Bitcoin's price. In a short period, the price of BTC briefly plummeted to around US$103,000, before eventually recovering to US$105,000. 

The rapid and extreme price movement of Bitcoin has left many traders and investors wondering: is this just a temporary retracement, or is it the beginning of a deeper correction?

Binance Open Interest Correlation Becomes a Key Signal

One indicator attracting attention comes from Binance. Joao Wedson, an on-chain analyst and CEO of Alphractal, revealed in his analysis on Saturday (14/06) that the correlation between Binance's Open Interest (OI) and Bitcoin's price is currently sending signals that should be taken seriously.

According to Wedson, this correlation is now approaching a very critical level and could indicate that the crypto market and Bitcoin are preparing to enter a phase of high volatility.

“When the correlation drops significantly (≤ 0.1), it often indicates opposing behavior between price and Open Interest (OI). Historically, this condition has often preceded large volatility spikes in Bitcoin's price,” he explained.