Bitcoin open interest stabilizes around $29 billion, lowest level since June
Odaily2024/07/24 23:30
By:Odaily
Odaily News According to data from The Block, despite recent price fluctuations, BTC total open interest remains stable at around $29 billion, the lowest level since June.
Bitcoin futures trading volume remained around $1.5 trillion month-on-month, indicating that trader participation continued despite price fluctuations. Analysts said that normally, high open interest combined with sharp price increases could indicate a
market bubble where market enthusiasm could outweigh fundamental value. However, currently open interest is stable and prices are rising, indicating a more cautious market sentiment.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Traders Watch $32 Level as Avalanche ($AVAX) Builds Momentum—What’s Next?
Cryptonewsland•2024/10/16 23:18
Ripple and SEC’s Legal Clash Set to Continue Through Mid-2025
Cryptonewsland•2024/10/16 23:18
Grayscale’s Bid to Launch Multi-Crypto ETF—Why Bitcoin and Ether Liquidity May Seal the Deal
Cryptonewsland•2024/10/16 23:18
Could Tron (TRX) Be Poised for a Significant Bull Run Amid Growing Adoption and Market Dynamics?
Coinotag•2024/10/16 23:09
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$67,651.66
+0.96%
Ethereum
ETH
$2,610.67
+0.34%
Tether USDt
USDT
$0.9998
+0.00%
BNB
BNB
$601.03
+1.22%
Solana
SOL
$154.42
-0.18%
USDC
USDC
$0.9999
+0.00%
XRP
XRP
$0.5492
+1.56%
Dogecoin
DOGE
$0.1259
+7.19%
TRON
TRX
$0.1599
+0.69%
Cardano
ADA
$0.3537
-1.20%
Bitget pre-market
Buy or sell coins before they are listed, including SCR, MAJOR, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now