At the same time, investors appear to be increasing their positions. According to Coinglass data, Bitcoin’s open interest has reached $85 billion — the highest level ever recorded. This indicates strong bullish sentiment and expectations of a major BTC price jump. Moreover, upcoming CPI and PPI reports have strengthened expectations of a Fed rate cut, further supporting BTC’s upward momentum. 

Clarity Act and Crypto Week 2025: A Crucial Period for Bitcoin 

Crypto Week 2025 is taking place between July 14–18. During this time, the Clarity Act is expected to be brought to the floor. The bill aims to clarify the jurisdiction of SEC and CFTC over crypto assets in the US. If passed, regulatory uncertainty surrounding Bitcoin could ease, potentially attracting more institutional investors. 

Optimism around the Clarity Act contributed positively to BTC price momentum at the start of Crypto Week 2025. Expectations that regulatory uncertainty will end have boosted investor appetite. Inflation data released before the July FOMC meeting also raised risk-on sentiment, further supporting BTC’s rally. In addition, speculation over potential Fed rate cuts in the coming months is fueling Bitcoin’s continued rise. 

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’ t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news.

The post Bitcoin Open Interest Hits Record High Ahead of US Vote!  appeared first on Coin Engineer.