Ethereum Flashes A Rare Signal As Open Interest Reaches Highest Level Since 2019
Ethereum is struggling to push above $2,000 as the market prepares for a decisive move that participants on both sides of the trade increasingly recognize as imminent. The price is compressing — and CryptoQuant data has identified a development in the derivatives market that explains why the current level feels like more than a routine resistance test. Related Reading: HYPE Whale Bets Grow Larger As Institutional-Linked Accumulation Reaches $170M On May 28, Binance recorded a 336,000 ETH increase in 30-day open interest while Ethereum traded near $1,990. That single-venue reading is the....
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Altcoin season is now official, with the highest ranked of the bunch setting a new all-time high today – much like Bitcoin did late last year. At the same time, open interest in Ethereum Futures contracts has never been higher, suggesting that the momentum, volatility, and potential upside has only just started. Here’s a closer […]
Following the bitcoin recovery above the $76,000 level last week, the Dogecoin price also saw a notable increase, rising by more than 10% in a 7-day period. This naturally saw a rise in interest in the meme coin and translated to a surge in its open interest. While this initial surge has been bullish, it now begs the question of whether the digital asset will be able to maintain this trajectory or risk another crash. Dogecoin Open Interest Reaches 2-Month Highs When the Dogecoin price surged past $0.1 recently, the open interest rose rapidly at the same time. The result of this surge was....
Data shows a large amount of leverage has been piling up in the Ethereum futures market as the price of the crypto breaks above $2k. Ethereum Open Interest Surges To Highest Value In Last 4 Months As pointed out by an analyst in a CryptoQuant post, the ETH futures market has seen the leverage sharply going up recently. The “open interest” is an indicator that measures the total number of Ethereum futures contracts currently open in all derivatives exchanges. When the value of this metric rises up, it means investors are opening up more positions on the market right now. Since....
Bitcoin has lost the $80,000 level as the market faces indecision that has left bulls and bears in a genuine standoff, with buyers fighting to hold above $75,000 against a backdrop of uncertainty that has made directional conviction difficult to sustain. The price is under pressure — but a CryptoOnchain report has surfaced a macro […]
The two largest cryptocurrencies by market cap, Bitcoin and Ethereum, have seen a significant rise in their open interest in the last couple of weeks. This comes even when the market is seeing struggling prices and investors have begun to take more conservative positions in the market. The drastic increase in the open interest across these two cryptocurrencies could have some significant implications for the crypto market as a whole. Ethereum Spikes With Bitcoin Bitcoin open interest has been on the rise over the last couple of weeks, which has led to some interesting forecasts for the....