Record $7.9B Bitcoin futures open interest shows bears are watching BTC price
Bitcoin price may have broken above $20,000 but the 40% decrease in volume shows bears are watching BTC closely. Today Bitcoin (BTC) price blasted through the $20,000 level and in the process, a record $7.9 billion in futures open interest was set. Although the price increased by 74% over the past two months, the total accumulated short-seller liquidations amounted to $4.3 billion, which is lower than the $4.8 billion from longs.BTC futures aggregate open interest. Source: Bybt.comAs shown in the chart above, the futures aggregate open interest increased by 90% over the past two months.....
Related News
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....
XRP Open interest on the CME Group has reached a new all-time high (ATH), presenting a bullish outlook for the altcoin. This further underscores the massive demand for XRP exposure among institutional investors, which could serve as a catalyst for higher prices. CME XRP Futures Open Interest Hit News ATH In an X post, the CME Group revealed that the XRP futures have hit an all-time high in open interest with over 6,000 contracts on August 18, just before their three-month anniversary. The derivatives platform further remarked that this development is a clear sign of growing conviction in....
Bitcoin may be en route to retest underlying support levels but the record $22.5 billion open interest on BTC futures shows bulls expect the uptrend to continue. Bitcoin (BTC) price has rallied 22.5% in March, but as the price moved up, some buyers began to use excessive leverage, according to derivatives data. Meanwhile, futures open interest reached a $22.5 billion record-high, causing investors to question how sustainable the current rally is.Being optimistic, especially during a bullish market, can't be deemed worrisome. Still, a yellow flag is raised when buyers use excessive leverage....
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....
Bitcoin price fell short of reaching $20,000, but record high open interest on BTC futures shows pros are still bullish. Bitcoin (BTC) price failed to blast through the $20,000 level this week but multiple records related to volume and open interest were made on the way up to $19,484. One notable achievement was the open interest on aggregated futures contracts reached $7.4 billion at derivatives exchanges. BTC futures aggregate open interest. Source: SkewAs depicted above, there has been a 110% increase over the past 6 months, and it is also worth noting that the Chicago Mercantile....