Crypto Gator | The Best Cryptocurrency, Blockchain and Forex News Aggregator
The Best Cryptocurrency, Blockchain and Forex News Aggregator
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 […]
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)
The post Bitcoin looks extremely healthy – as Open Interest drops almost 15% in the past two weeks appeared first on CryptoSlate.
