Bitcoin Open Interest Drops 3.5% – More Pain Ahead?
Bitcoin has remained above the critical $100,000 level since early June, suggesting that the market may be establishing a new price equilibrium. Despite holding this psychological threshold, the bullish momentum has stalled as BTC struggles to break above its all-time high near $112,000. This consolidation phase is marked by indecision, with traders weighing macroeconomic uncertainty, […]
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Several large-cap assets, including Bitcoin and Ethereum, struggled to make a mark in the past week, as the general market suffered a steep downturn in prices. According to various analyses, the market was negatively impacted by some recent macro developments in different countries. This significant decline has had a widespread effect on the market sentiment, with most investors now treading cautiously. This can be seen with the recent drop in Ethereum open interest, which could hold serious implications for the price of ETH. Ethereum Open Interest Declines By $6 Billion — Impact On Price?....
Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform. According to Arcane Research’s post on Twitter, “the former yearly low was painted on the 30th of April when the open interest bottomed at 61,975 BTC.” The post adds that in the wake of the act CFTC, traders are “definitely closing their positions on Bitmex.” Open....
Data shows the Bitcoin futures market is starting to overheat again, which could lead to higher asset price volatility. Bitcoin Open Interest Has Been Climbing Recently As an analyst in a CryptoQuant Quicktake post explained, the open interest has seen some rise during the past month. The “open interest” is an indicator measuring the total […]
Ethereum has been outperforming bitcoin for a while now. The altcoin had managed to grow so rapidly that it is now about half the market cap of bitcoin despite being more than 5 years younger. This outperformance had continued through the bull market and now even into the bear market. Ethereum has taken one step further to overtake bitcoin in yet another metric, and that is the amount of open interest in the asset. Open Interest Flips Bitcoin New data from Glassnode has shown an interesting development when it comes to the open interest in both Bitcoin and Ethereum options. Bitcoin had....
Following the crash to $35k, the Bitcoin open interest has declined to September 2021 levels. This may suggest that the market volatility will be lesser in the near future. Bitcoin Open Interest Drops To Similar Levels As In September 2021 As pointed out by an analyst in a CryptoQuant post, the BTC open interest has decreased to similar levels as last September following the crash. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open in the derivatives market. The metric accounts for both long and short positions. When....