Bitcoin Open Interest Crashes By $4.5 Billion In One Weekend, Spells Doom For...
Bitcoin open interest crashed by billions in one weekend, painting a bearish outlook for the flagship crypto and spells doom for BTC bulls. Despite this setback, crypto analysts have provided some optimism with their analysis, which hints at a bullish reversal soon enough. Bitcoin’s Open Interest Crashes By $4.5 Billion Over The Weekend Coinglass data shows that Bitcoin’s open interest crashed by $4.5 billion over the weekend, dropping from $65 billion to $61.5 billion. This came following the liquidations that occurred due to the BTC price crash. Further data from Coinglass shows that....
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Data shows Bitcoin has a pattern of sharply correcting after the open interest on BTC futures tops $1 billion. There was a time when BitMEX derivatives exchange reigned sovereign over other exchanges, and the company effectively held a 50% market share until July 2019. For this reason, traders kept a close eye on every indicator connected to BitMEX, including its funding rate, open interest, and basis.Open interest measures the total number of contracts held by market participants. As the figure rises higher, so does the potential size of liquidations. On Aug. 2, a $1,400 crash happened as....
DOT price crashed both times after its futures open interest clipped $1 billion. Should traders expect a correction now that OI is over this figure? Whenever there is relevant growth in the number of derivatives contracts currently in play (open interest), it usually means that more traders are involved. In futures markets, longs and shorts are balanced at all times, but having a larger number of active contracts allows the participation of institutional investors that require a minimum market size.However, in Polkadot's (DOT) case, price crashes have often been anticipated by this....
The Bitcoin open interest has remained on the high side despite the price declines, suggesting that interest in the leading cryptocurrency by market cap remains abundant. This interest is no doubt a good thing for the crypto market, especially in the long-term. But looking back at previous trends involving the Bitcoin open interest, it is concerning that the value is still so high and this could hinder a recovery for the Bitcoin price from here. Bitcoin Open Interest Still Above $56 Billion Data from the Coinglass website shows that the Bitcoin open interest is still quite high and not far....
One latest news making rounds in the crypto space is the new partnership between the digital payment platform-Allied Payment Network, and the Bitcoin subsidiary of Stone Ridge, a $10 billion alternative asset manager called NYDIG. Related Reading | GBTC Unlocks Spells Doom For Bitcoin? Top Expert Breaks It Down The latest developments come with the […]
Data shows the Bitcoin Open Interest has seen a surge to a new all-time high (ATH) recently, a sign that volatility could be brewing for BTC. Bitcoin Open Interest Has Been Going Up Recently As pointed out by CryptoQuant founder and CEO Ki Young Ju in a new post on X, the Bitcoin Open Interest […]