Declining open interest in futures market contrasts Bitcoin’s bullish rally

10/03/2023 22:30
Declining open interest in futures market contrasts Bitcoin’s bullish rally

As bitcoin rallies past $28,000, futures market sees unusual calm with a decline in open interest and leverage.

Declining open interest in futures market contrasts Bitcoin’s bullish rally Declining open interest in futures market contrasts Bitcoin’s bullish rally 42 seconds ago · 3 min read

The increase in bitcoin price is not matched by futures market activity.

3 min read

Updated: October 3, 2023 at 3:38 pm

Declining open interest in futures market contrasts Bitcoin’s bullish rally

Cover art/illustration via CryptoSlate

"Bitcoin's recent rally past $28,000 defies traditional market trends, with open interest, as a percentage of Bitcoin’s market cap, approaching an annual low. This surprising contraction in speculative trading amidst bullish momentum raises fascinating questions. Are traders becoming more cautious? Are they anticipating a potential price correction? However, something intriguing is occurring beneath... A shift that could be reshaping the very dynamics of the Bitcoin market..."

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