Is The Bitcoin Open Interest Too High Or Can The BTC Price Still Rally?
The Bitcoin open interest has remained on the high side despite the price declines, suggesting that interest in the leading cryptocurrency by market cap remains abundant. This interest is no doubt a good thing for the crypto market, especially in the long-term. But looking back at previous trends involving the Bitcoin open interest, it is concerning that the value is still so high and this could hinder a recovery for the Bitcoin price from here. Bitcoin Open Interest Still Above $56 Billion Data from the Coinglass website shows that the Bitcoin open interest is still quite high and not far....
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Data shows the Bitcoin Open Interest has shot up to a new all-time high (ATH), implying speculative interest around BTC has surged. Bitcoin Open Interest Has Risen Alongside Price Rally As explained by CryptoQuant community analyst Maartunn in a new post on X, the Bitcoin Open Interest has seen a sharp surge recently. The “Open […]
Ethereum open interest (OI) had seen a meteoric rise in the weeks leading up to the Ethereum Merge. Even after the Merge, the open interest has not declined, given all of the new interest from institutional investors following the network’s move to a proof of work mechanism. This time around, the Ethereum open interest has hit another important high point, which points to a possible rally in the price of ETH. Open Interest Reaches $7.7 Billion Ethereum open interest still remains high despite ETH’s decline to the low $1,000s back in September. Data shows that the open interest in ETH has....
In an interesting turn of events, the Bitcoin open interest has remained high even at a time when the price has been dropping. This suggests that despite the price crash, investors are still looking favorably at the pioneer cryptocurrency. Bitcoin Open Interest Stays Close To All-Time High The Bitcoin price has seen a decline over […]
The bitcoin open interest over the past several weeks has been interesting to witness. Surges and dips appeared and disappeared just as quickly, usually following the price of the digital asset itself. Last week was no different given the movement. The bitcoin denominated open interest had plunged after only hitting a new all-time high the previous weeks. This suggests a sharp turn in the sentiment of investors after the rollercoaster of the last week. Bitcoin Open Interest Down 25,000 Back at the beginning of June, Bitcoinist reported that a short squeeze may have been the reason behind....
The open interest of Polkadot futures soared to $1 billion, eclipsing Litecoin and XRP to make DOT the third-largest futures market. On March 24, the price of Polkadot's DOT token corrected by 23% in a brief six-hour period, resulting in $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%. Now that DOT's open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way.DOT/USDT on Binance. Source: TradingViewAlthough the event severely hurt leveraged longs at....