All
Contribute!
BlockchainCrypto MarketCryptocurrency

Bitcoin looks extremely healthy – as Open Interest drops almost 15% in the past two weeks

CoinSurges
By CoinSurges

Share This Post

Quick Take

  • Futures Open Interest (OI) is the total amount of funds (USD Value) allocated in open futures contracts.
  • The OI peaked in October 2022 — with roughly 667,000 BTC allocated in open interest contracts.
  • Roughly there are now 368,000 BTC allocated in OI contracts — a decrease of 300,000 Bitcoin.
  • Bitcoin has jumped in price from $19,000 to $26,000 while seeing leverage unwound. This is extremely healthy.
  • In the past two weeks, we have seen roughly a decrease in OI by about 15% — now at similar levels in early 2022.
  • For this trend to continue, OI must decline while spot Bitcoin accumulates.
Futures Open Interest: (Source: Glassnode)
Futures Open Interest: (Source: Glassnode)

The post Bitcoin looks extremely healthy – as Open Interest drops almost 15% in the past two weeks appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Last Week Featured Bullish Continuation

This editorial is from last week’s newsletter, Week in Review, with some slight tweaks to dates so the article makes sense Subscribe to the newsletter to get this editorial the second it’s

AI Powerhouse Openai Raises $6.6B Achieving a $157B Valuation

AI startup Openai reported closing a funding round led by Thrive Capital and the participation of other tech companies like Microsoft and Nvidia The $66 billion raised would be used to expand its set

Bitcoin Price Fall Increases Buying Momentum, Pushes Exchange BTC Balances To 6-Year Lows

Following a major price decline in Bitcoin (BTC), market sentiment dropped back to strong levels of fear, indicating that investors are becoming increasingly cautious and risk-averse Despite this

Spellborne’s Side Quests Take Center Stage

Having completed the main quests of Season 1, Regina returns to the captivating world of Spellborne to tackle the latest side quests What ensues is an intense blend of strategy, reflex challenges,

Why Did The Shiba Inu Price Rally Over 5% And Left Dogecoin Behind?

Shiba Inu (SHIB) rallied over 5% in the last 24 hours, leaving Dogecoin (DOGE) behind, as the largest meme coin by market cap recorded lesser gains Onchain data shows that crypto whales, considering

POPCAT Surges Past $1.0094 All-Time High – What’s The Next Price Target?

POPCAT has achieved a remarkable milestone by surging past its all-time high of $10094, igniting excitement among traders and investors alike This breakout signals a powerful bullish momentum,
Previous article
CZ touts rules for securitization of digital assets in new tweet thread
Next article
Coinbase’s Grewal hails Ripple’s defense efforts: XRP relisting possible

Categories:

Hot right now:

Company:

Follow on:

Crypto Coin Live Stats

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.