Open Interest has lost almost $1 billion in value between the 23rd and 24th of May. AMBCrypto found out after examining the metric using Santiment’s on-chain data.
In crypto trading, there are two sides to a trade— a buyer and a seller. When OI increases, it means that there is new money coming into the market in favor of the buyers.A trend like this suggests a bullish trend. But if the metric indicates gets too high, the OI could serve as a bearish sign. On the other hand, a decline in Open Interest suggests an increase in positions closed which favors sellers.indicates that most traders are not initiating new positions.
The decline in this metric implies that discussions related to the cryptocurrency had fallen, suggesting that attention from the market was moving elsewhere.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Will Bitcoin’s 1B transaction record give BTC the push it needs?Bitcoin saw a continued increase in its hash rate, and in turn the network security grew stronger, but network activity showed a lull.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin dips below $68k as interest rate fears rise, Ether spikes on ETF hopesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Bitcoin falls below $70K as FOMC ‘refuses to hike’ interest ratesThe impact of the Fed’s decision was notably negative, as BTC dropped below the $70K mark on the 22nd of May.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin ETFs see surging interest: Who’s buying and who’s selling?After four consecutive weeks of outflows, the total inflows of US spot Bitcoin ETF reached $116.8 million last week.
Source: CryptoAmb - 🏆 22. / 68 Read more »
How did Bitcoin’s price react to Fed meeting, unchanged interest rates?Bitcoin fluctuated around $57K after the US Fed kept interest rates unchanged at 5.25 - 5.50%, with no clear rate cuts.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin and interest rates: will rate cuts fuel the next bull run?The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »