Bitcoin experienced a significant price increase on the morning of December 29, leading to a $2 billion rise in global futures market open interest. This development was highlighted by CryptoQuant analyst @Darkfost_Coc, who pointed out that such spikes in open interest often result in short-term volatility. The analyst cautioned that the temporary nature of leveraged positions in the futures market could delay the establishment of a solid market bottom, potentially impacting the prospects for a sustained bull market.