Bitcoin Breaks $123,000 As Rising Open Interest Signals More Action Ahead
According to market reports, Bitcoin pushed up against a key ceiling this week as more money flowed into futures and spot markets. Price action has held above several support levels, and traders are watching $123,500 as the immediate test before a fresh run at records. Related Reading: Bitcoin Rockets Past $119K, Analysts Now Eye $130K Target Bitcoin Price Tests Final Resistance Bitcoin’s trading channel has held firm for weeks, with a steady pattern of higher highs and higher lows. After finding support near the channel low — a point that lined up with the market’s point of control — the....
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On-chain data shows Bitcoin futures open interest has jumped up more than $1.5 billion in just a few hours as the crypto’s price breaks past $44k again. Bitcoin Futures Open Interest Adds More Than $1.5 Billion Within A Few Hours As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shot up over the past day as the coin’s price has observed a surge. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open on all derivatives exchanges. When the value of this metric is rising, it means more....
As Bitcoin (BTC) recovers from recent lows of around $52,500, open interest in the digital asset is rising much slower than the asset’s price. Bitcoin Relief Rally Could Be Spot-Driven Cryptocurrency trader and investor Daan Crypto made an interesting observation about Bitcoin’s open interest and the asset’s price action. In a post published on X, […]
Ethereum prices might be stagnant at spot rates, weaving around the $1,540 and $1,560 zone, looking at technical charts. However, amid this period of consolidation and holders worrying about Ethereum’s prospects, Kaiko notes that the coin’s open interest has been gradually rising since September 2023. Ethereum Open Interest Rising: What Does It Mean? As of October 10, Kaiko observes that there are more than 2.2 million contracts, and the number has been rising steadily over the past few trading weeks. With increasing open interest, it can hint that bulls are in the equation,....
Data shows the Solana perpetual futures Open Interest has surged past $7 billion, a sign that speculative participation in SOL is on the rise. Solana Perp Open Interest Has Spiked Recently As pointed out by on-chain analytics firm Glassnode in a new post on X, the Solana Open Interest has climbed up as the SOL […]
In this episode of NewsBTC’s daily technical analysis videos, we take a look at Bitcoin price action following today’s selloff in reaction to August CPI numbers. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 13, 2022 Today just so happened to be August CPI numbers release day, so volatility was expected all around. The Consumer Price Index went up by 0.1% month over month from July, leading to an immediate selloff in anything that wasn’t the dollar. Related Reading: WATCH: Bitcoin Weekly Chart Fires Bottom Signals At Open | BTCUSD....