Glassnode: Data on unliquidated Bitcoin futures contracts shows that speculative momentum is declining
Glassnode posted on the X platform that BTC futures open interest (OI) shows a decline in speculative momentum. The medium-term trend line (30-day SMA) has reached its peak and is now slightly declining, while the short-term trend line (7-day SMA) has fallen below it. This suggests that traders have closed their positions to deal with uncertain market conditions.
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.
You may also like
Strategy increases holdings by 245 BTC at an average purchase price of $105,856
Kazakhstan Partners with Solana to Establish a Blockchain Economic Zone
Golden Noon Briefing | Key Midday Developments on June 23
Trending news
MoreCrypto prices
More
