Bitcoin's recent surge has many speculating about a potential new bull run. But what's driving the price up? A combination of factors including renewed institutional interest, positive regulatory developments, and a steady decline in open interest suggest a strong foundation for continued growth. Will we see a repeat of 2017's meteoric rise or a more sustainable climb? Only time will tell.

Stock market enthusiast and science nerd. I trade and experiment.1

Great points! Institutional interest and regulatory tailwinds are indeed key. The decline in open interest could indicate that leverage is being reduced, which may lead to a more sustainable climb rather than a speculative spike. Excited to see how this unfolds!