All articles tagged with #open interest
Mantle (MNT) has surged 15% to $1.36 driven by whale accumulation, a new staking partnership with Bybit, increased open interest, and exchange outflows, indicating strong short-term bullish momentum. However, heightened leverage and profit-taking by large investors could lead to increased volatility, making the sustainability of this rally uncertain.
SUI has confirmed a bullish breakout above a multi-month symmetrical triangle, with potential to reach $5.30 and higher, supported by increased Open Interest and network growth, though sell-side pressure and order flow caution suggest traders should watch for support at $4.20 to sustain the rally.
Bitcoin's recent surge above $117,500 was driven mainly by short-covering in derivatives, leading to over $1 billion in liquidations and a drop in open interest, indicating that the rally may be fragile without new inflows. Analysts suggest that the current momentum is fueled more by derivatives activity than spot demand, and caution that the rally's sustainability depends on future market inflows. The weakening US dollar and signs of economic slowdown support Bitcoin's bullish outlook, but traders remain cautious about the rally's durability.
Ethereum shows signs of a potential breakout with record-high open interest and strong institutional inflows, mirroring Bitcoin's historic bull cycle, but needs a catalyst to surpass $2,600 and reach $4,000 for a possible new bull run.
Bitcoin's price decoupling from Binance Open Interest signals potential upcoming volatility and liquidation risks, raising concerns for traders about possible cascading effects in the market.
PEPE memecoin has dropped 17% in 24 hours amid increasing selling pressure, declining open interest, and market fears, though investors continue to buy, and technical indicators suggest potential for a rebound despite the risk of further decline to support levels.
Quant (QNT) has seen a significant increase in open interest, reaching an eight-month high of $22 million, as the altcoin's price surged by over 15% in 24 hours. This bullish momentum is supported by technical indicators like the Chaikin Money Flow and MACD, suggesting potential further gains towards the 1.618 Fibonacci level at $142. Additionally, positive funding rates and reduced exchange netflows indicate strong market sentiment and anticipation of continued price increases.
Ethereum's open interest has reached a record high of over $17 billion, indicating increased trader activity and potential market optimism. However, historical patterns suggest that such spikes in open interest often precede price corrections, as seen in past instances. While Ethereum's exchange reserves and stochastic indicators hint at potential selling pressure, the Relative Strength Index (RSI) suggests there may still be room for upward movement. If a correction occurs, Ethereum's price could drop to around $3.38k.
Bitcoin's Open Interest has declined, indicating a reduced appetite for leverage and a slowdown in market excitement. This decrease in Open Interest, alongside significant liquidations, suggests a bearish trend as Bitcoin's price pulled back from its historic high. Despite a slight recovery, Bitcoin's dominance and liquidity have dipped, with investors possibly shifting focus to altcoins. The market's momentum remains weaker compared to earlier in November, reflecting a cautious sentiment among traders.
Solana (SOL) has experienced a significant price increase, rising by 44.46% over the past month, with its Open Interest reaching a new all-time high of $4.68 billion. This surge in Open Interest indicates growing investor demand and confidence, as evidenced by the dominance of long positions in the market. The overall bullish sentiment suggests that SOL could continue to appreciate, potentially breaking through resistance levels at $222 and $242, amid a broader crypto market upswing.
Bitcoin's recent 6.8% drop is linked to Open Interest (OI) surpassing $13 billion, historically leading to significant market corrections. The surge in OI to $17.7 billion on March 28th preceded the recent losses, prompting speculation on whether BTC will recover or trend downward. High OI levels attract volatility due to liquidity, with short-term bullish reversal potential indicated by liquidation charts. Short liquidations outnumber long ones, suggesting potential price rally to levels like $68.2k, $69.6k, and $70.3k. The $60.6k and $74k-$74.6k zones are key areas of interest, with the Bitcoin halving event expected to bring more volatility before a true bull run.
Bitcoin's open interest for futures contracts has surged to a record $34 billion, coinciding with a new all-time high price of $73,750. Institutional interest in Bitcoin is evident through record inflows into Bitcoin ETFs, with BlackRock's iShares BTC ETF receiving $850 million in a single day. While the bullish sentiment is strong, caution is advised due to high funding rates in the futures market. Bitcoin evangelists like Michael Saylor remain optimistic, envisioning a future where Bitcoin becomes a significant store of wealth. The coming period will be crucial in determining the long-term trajectory of Bitcoin.
Bitcoin (BTC) reached new month-to-date highs, surpassing $27,000 for the first time in September, as a strong weekly close and bullish sentiment on Wall Street fueled the rally. Market participants observed a resurgence of momentum among Bitcoin bulls, with altcoins also showing signs of awakening. However, caution was advised as open interest in Bitcoin surged, potentially leading to a retracement if spot bids disappear. The U.S. Dollar Index (DXY) remained strong, breaking through the 105 level for the first time since mid-March, but Bitcoin showed no signs of weakness.
Open interest in futures tracking Bitcoin Cash (BCH) tokens has surged to May 2021 levels as the Bitcoin offshoot network experiences a revival of activity and value. BCH prices have doubled in the past week, becoming one of the top-performing tokens above a $1 billion market capitalization. Rising open interest either means that new money is flowing into the market or existing participants are increasing their allocation. The surge in trading interest is likely due to a network upgrade and an influential exchange listing.
Open interest in bitcoin derivatives has surged to $10 billion, a five-month high after leverage subsided in the wake of FTX's collapse in November. A rise in open interest, alongside an increase in price, is often used to confirm the legitimacy of a move. Bitcoin was trading at around $30,000 after it surged to a 10-month high of $30,540 on Tuesday. Zahreddine Touag, head of trading at Woorton, a crypto trading firm and liquidity provider, said that bitcoin broke out in a "global risk-on environment," with the Nasdaq also rising by 10% in the last 30 days.