Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Tha...
Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform. According to Arcane Research’s post on Twitter, “the former yearly low was painted on the 30th of April when the open interest bottomed at 61,975 BTC.” The post adds that in the wake of the act CFTC, traders are “definitely closing their positions on Bitmex.” Open....
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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....
The Chicago Mercantile Exchange (CME) has become the second-largest derivatives market for bitcoin futures in terms of open interest. The popular exchange has seen an influx of demand since the recent Paypal announcement and the Bitmex debacle as well. Data shows that the Bitcoin Mercantile Exchange (Bitmex) open interest for bitcoin futures has taken a dive since it was charged with illegally operating in the United States. CME Group’s rise in open interest began on Oct. 10, as Skew.com reported that the exchange added “nearly 1,500 contracts on the October expiry.”....
Bitcoin’s market dynamic has been shifting over the past week. The CFTC’s pursuit of the BitMEX co-founders has sparked some fear regarding the safety of funds on margin trading platforms that could be vulnerable to regulatory crackdowns in the US. Although BitMEX – and virtually all other crypto derivatives platforms – are registered offshore and […]
The crypto industry was shocked to hear that the U.S. Commodities and Futures Commission (CFTC) formally charged the three co-founders of BitMEX today. This sent shockwaves throughout the entire market, while also particularly impacting the tokens within the DeFi sector. Many smaller tokens saw massive 10%+ drops on the news, which came about as investors […]
The open interest for AVAX has been on a consistent rise over the last month, carrying the price of the altcoin along with it. The result of this continuous climb is the fact that the open interest has now surged to May 2022 levels, a development that could spell a massive rally for the price. AVAX Open Interest Surge To $224 Million According to data from Coinglass, the AVAX open interest has now climbed to $224 million. The website shows that there was an over 10% increase in the open interest in a 24-hour period which brought the total open interest above 10.04 million AVAX. Related....