Ethereum Open Interest Rises While Price Pulls Back: Short Squeeze Setup?
Data shows the Ethereum Open Interest has surged alongside the latest retrace in the asset’s price. Here’s what this could mean for the cryptocurrency. Ethereum Open Interest Has Seen A Rise Recently As highlighted by analyst Maartunn in an X post, the Ethereum Open Interest has just witnessed a surge. The “Open Interest” here refers to an indicator that measures the total amount of positions related to the cryptocurrency that are currently open on all centralized derivatives exchanges. Related Reading: Bitcoin Cycle Indicator Turns Green For First Time In Years:....
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On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. This could mean that a short squeeze may be coming soon. Bitcoin Open Interest Rises Despite Decline In Price As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shown uptrend over the past month, despite the price of the crypto moving down. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts that are currently open in the market. When the value of the metric moves up, it means more investors are....
The Bitcoin crash of last week was a brutal one for the market. It saw the digital asset lose its footing from where it had been trending just below $30,000 to crash to the mid $17,000s before a recovery had begun. With the new week, the market had started to emerge into the green. But as bitcoin struggles to hold above $20,000, the question remains what had triggered such a crash. A Short Squeeze The bitcoin open interest in perps had been up over the last couple of weeks. This has continued to be the case through the market crash and the subsequent recovery. However, the open interest....
As a result of the recent pullback in the cryptocurrency market over the weekend, Ethereum (ETH) has created two Chicago Mercantile Exchange (CME) gaps at $3,000 and $2,600. Crypto analyst Ted suggests that a short squeeze could soon push the price beyond $3,000, potentially filling these two CME gaps. Is An Ethereum Short Squeeze Imminent? […]
Bitcoin’s price recovered to around $73,000 in early March, after having fallen to the mid-$60,000 range from late January due to geopolitical unrest. What The Data Says Bitcoin’s price notable instability during the first trimester of the year seems to have a direct geopolitical correlation, CryptoQuant reports. Bitcoin dropped to around $63,000 on February 29, following the U.S.-Israel military strike on Iran on February 28 and the Iran heightened tensions in the Middle East. BTC had recovered near $70,000 by March 2, and by March 4 and 5 the price pushed to above $73,000 due to....
What to Know: There is a large concentration of liquidity above the current $BTC price, suggesting a short squeeze could be in the making. The “Coinbase premium” for Bitcoin (the premium or differential of Bitcoin’s price on the U.S. exchange Coinbase relative to global exchanges) is rising – signifying stronger U.S. institutional and retail demand. A $BTC short squeeze could make Bitcoin Hyper the best crypto to buy with its Layer 2 upgrade. With Bitcoin (BTC) hovering around $110K, a perfect storm of technical signals and macro tailwinds is building — potentially priming the world’s....