'Violent' Bitcoin breakout due as BTC open interest nears all-time high
Bitcoin futures open interest is almost higher than ever, but its composition is completely different from last year, analysis reveals. Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin whale activity highlights the importance of $19,000Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the day.The amount of $20,000 formed a focus for the pair, which meandered in step....
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Over the last few weeks, both Bitcoin and Ethereum have seen an interesting wave of price action with high volatility. Naturally, this volatility has spurred a wave of trading as crypto traders see this as a time of opportunity due to the fluctuations. The result of this has been a rapid rise in the open interest of both Bitcoin and Ethereum during this time. While this, on its own, is significant, looking at the previous performances, it could suggest where the Bitcoin and Ethereum prices are headed next. Bitcoin And Ethereum Open Interest Remain Very High Toward the end of the month of....
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 […]
Data shows the Ethereum open interest has surged up to near all-time high values as the ETH 2.0 merge comes closer. Ethereum Open Interest Has Sharply Risen Up Recently As per the latest weekly report from Arcane Research, the ETH open interest in futures and perps has surged up to 4.2 million ETH in recent days. The “open interest” is an indicator that measures the total amount of Ethereum futures and perps contracts currently open in the market (denominated in ETH). The metric includes both shorts and longs. When the value of this indicator is high, it means a large number of....
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....
According to a recent CryptoQuant Quicktake post by contributor Avocado_onchain, Bitcoin (BTC) may be primed for an extended rally. The top cryptocurrency’s open interest in the futures market is approaching historically high levels – a trend seen during previous bull markets. Bitcoin Open Interest Continues To Climb As BTC edges closer to the $100,000 mark, […]