Surge In Bitcoin Open Interest Suggests A Short Squeeze Was Behind Late May R...
The opening of the trading week had seen bitcoin surge again and had touched as high as $32,000, albeit briefly. This recovery had taken the market by surprise given that indicators were pointing toward more bearish trends. Nevertheless, the recovery was a welcome sight as it put bitcoin on a track to end its red […]
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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....
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....
Yearn.finance (YFI) has been facing heightened volatility as of late, with bears attempting to capitalize on recent drama surrounding one of the projects that Yearn’s founder is working on. However, the cryptocurrency’s descent now appears to be slowing slightly, with bulls posting an ardent defense of $22,000 – a price that was visited during a […]
On-chain data shows the Bitcoin open interest is sharply rising, a sign that a long squeeze may be brewing in the crypto futures market. Bitcoin Open Interest Has Observed Rise Recently, While Funding Rates Remain Positive As pointed out by an analyst in a CryptoQuant post, the futures market may be heading towards a long squeeze in the near future. The “open interest” is an indicator that measures the total amount of Bitcoin futures positions currently open on derivatives exchanges. It includes both long and short positions. An increasing value of the metric suggests users are....
There is increasing reason to believe that surprise gains, not losses, for Bitcoin will be the conclusion of the current BTC price phase, say analysts. Bitcoin (BTC) broke through $42,000 on Jan. 11 as expectations of a fresh “short squeeze” mounted.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewShort-term squeeze “reasonably likely”Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from Monday’s dip to $39,600 — its first breach of the $40,000 mark since September.While short-term bullish prognoses were conspicuously absent on the day,....