Bitcoin’s Open Interest Yet To Return To All-Time High, On-chain Firm Clarifies
Bitcoin’s Open Interest (OI) has been experiencing significant growth lately, with several experts reporting that the metric has surged to a new all-time high. However, Alphractal, an investment data analysis platform, has addressed the claims, noting that open interest in BTC is yet to reclaim its current peak. Open Interest In Bitcoin Remains Below All-Time […]
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On-chain data shows the Bitcoin open interest has once again risen to high values, suggesting that a liquidation squeeze may be near for the crypto. Bitcoin Open Interest Has Climbed To High Values Recently As pointed out by an analyst in the CryptoQuant post, leverage has increased in the BTC market over the past week […]
Bitcoin’s dominance of the crypto market has been on the rise. This naturally comes with every downtrend in the market because although bitcoin takes a hit, the altcoins always record the worse losses, leaving them with less dominance of the market. Bitcoin’s dominance has however not stopped here. It has now spilled onto the derivatives market where the dominance of the pioneer cryptocurrency is even more apparent. Bitcoin Open Interest Surges The general open interest in the crypto market has been on a decline since the market took a hit in December. This is currently sitting at about....
Crypto analyst CrediBULL Crypto has revealed that Bitcoin’s open interest has crashed to a six-month low. The analyst further explained what happened the last time this low open interest occurred while providing a bullish outlook for the flagship crypto. Bitcoin’s Open Interest Crashes To 6-Month Low In an X post, CrediBULL Crypto revealed that Bitcoin’s open interest is at the lowest levels it has been at in six months. He noted that the BTC price was trading between $50,000 and $60,000 the last time the open interest was this low. The analyst also revealed that Bitcoin’s funding rate....
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....
Bitcoin’s recent gains appear to have been driven by leverage-fuelled speculation, with open interest in futures and Binance’s leverage ratio pushing into new highs. On Nov. 4, crypto data market aggregator CryptoQuant published a chart indicating Binance’s Estimated Leverage Ratio — open interest divided by Bitcoin (BTC) reserves — has pushed into new all-time highs.The record was set on Nov. 3 after a spike in open interest pushed Binance’s ELR above 0.18 for the first time. The spike in ELR came shortly before Bitcoin established a double-bottom at roughly $13,400. New data suggests....