Research: Only 150K Bitcoin remain in Future OI as switch to risk-off fast approaches

Research: Only 150K Bitcoin remain in Future OI as switch to risk-off fast approaches
фото показано с : cryptoslate.com

2023-1-3 20:00

Bitcoin (BTC)  began the year risk-off — as seen in the Futures Open Interest (OI) Crypto-Margined metric displayed below.

Bitcoin: Percent Futures Open Interest crypto-Margined metric – Source: Glassnode.com

The decline in BTC Futures OI percentage seen from July 2021 into 2022 portrayed a recovery into a risk-on narrative throughout 2022. However, starting at almost the lowest point in two years, risk is coming off the table fast as we begin 2023.

Throughout 2021, over 60% of Futures contracts were using BTC as the underlying asset — lending to the risk-on narrative as BTC is more volatile compared to a stablecoin.

Meanwhile, in 2022, crypto-backed margin remained relatively flat in the 35% to 40% range — lower than 2021, but suggestive of stability returning. However, a 15% adjustment to the downside as we begin 2023 indicates that risk is coming off fast into the first quarter.

Bitcoin: Crypto Back Change – Source: Glassnode.com

Crypto-backed margin also fell similarly on four previous occasions:

In May 2021 following the China ban on crypto Between November and December 2021 just after the all-time high (ATH) In April 2022 around the Luna collapse In October 2022 with the lead up to the FTX collapse entering a rocky Q4 from a macro standpoint.

Bitcoin: Futures Open Interest crypto-Margined [BTC] – Source: Glassnode.comApproximately 150,000 BTC remains in Futures OI — its lowest levels since April 2022 — as the risk-off trend decline continues to emerge.

To further reveal the distinct switch away from BTC to risk-off and cash, the ‘Cash-Margined’ metric shows a constant incline since April 2021 to a current level of 327,000 BTC — backed by cash as the underlying asset.

Bitcoin: Futures Open Interest Cash-Margined [BTC] – Source: GlassnodeDisclaimer: The levels displayed only represent exchanges covered in Glassnode data.

The post Research: Only 150K Bitcoin remain in Future OI as switch to risk-off fast approaches appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66648.3 (+0.38%)
Объем 24H $20.461b
Изменеия 24h: -0.47 %, 7d: 8.54 %
Cегодня L: $66031.14 - H: $66648.3
Капитализация $1313.017b Rank 1
Цена в час новости $ 16661.29 (300.02%)

risk-off bitcoin remain research fast only approaches

Источник: cryptoslate.com

risk-off bitcoin → Результатов: 49


Most of the Bitcoin supply is now loss-making

Key Takeaways Bitcoin was the best performing asset class between 2011 and 2021, but the year 2022 has brought nothing but pain After rising 14X from its pandemic low in March 2020 to its all-time high in November 2021 of $68,739, Bitcoin has struggled amid risk-off environment Pullback has been so severe that majority of […] The post Most of the Bitcoin supply is now loss-making appeared first on CoinJournal.

2022-12-23 15:28


Bitcoin is An Alternative to Copper As A ‘Risk-On’ Inflation Hedge Instead of ‘Risk-Off’ Gold: Goldman Sachs Analyst

Instead of gold, cryptocurrencies are an alternative to copper as a hedge against inflation, said Jeff Currie, global head of commodities research at Goldman Sachs. Bitcoin has been deemed as a hedge against the rising prices, giving competition to the traditional safe-haven asset precious metal.

2021-6-3 19:51


Bitcoin Pushes Higher But is it Enough to Bring in Confidence in Decoupling

Coronavirus has led to uncertainty in the global financial markets. All the major indexes have plummeted over the past few weeks as the market crashes in the severity of the Covid-19. In line with the global markets, bitcoin also crashed as investors took a risk-off approach due to global uncertainty. This crash in BTC prices […]

2020-3-22 23:59


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Long-term Bitcoin holders resume accumulation, adding almost 70,000 BTC post-downturn

Quick Take Glassnode data suggests that long-term holders who have held Bitcoin (BTC) for over 155 days are actively accumulating after offloading around 1 million BTC since late 2023. This cohort, known for selling into profits when Bitcoin reaches new all-time highs, has increased its holdings by approximately 70,000 BTC from the cycle bottom.

Nexo announces $12 million token airdrop for platform users

Nexo's token airdrop campaign will give users access to a pool with 10 million NEXO tokens by engaging with their digital asset products. The post Nexo announces $12 million token airdrop for platform users appeared first on Crypto Briefing.