Return of Bitcoin leverage signals impending market volatility

2023-6-21 12:52

Quick Take Over the past 24 hours, Bitcoin witnessed a remarkable surge, breaking the $28,000 mark, while its dominance in the market capitalization rose above the 50% threshold. There was a revival of spot buying, resulting in over $150 million worth of Bitcoin being withdrawn from exchanges, as shown below. According to Coinglass, open interest also saw a significant rise. ‘Open interest’ refers to contracts traded but not yet liquidated by an offsetting trade or an associated exercise or assignment.  It provides an indication of the liquidity and activity in a particular market. The total Bitcoin in open interest contracts has reached a substantial 475,000 units, a peak not witnessed since March. Open interest now comprises over 2.2% of the Bitcoin market capitalization, nearing the year-to-date high. This suggests an increase in futures contracts, potentially implying greater volatility and trading volume. NetFlow: (Source: Glassnode) OI/MC: (Source: Glassnode)

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Bitcoin (BTC) на Currencies.ru

$ 89506.28 (+0.59%)
Объем 24H $62.455b
Изменеия 24h: -2.47 %, 7d: -1.63 %
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