• bitcoinBitcoin(BTC)$29,371.00-2.69%
    BITCOIN
    24H : -2.69%
    Volume : $26,448,773,568.00
    Marketcap : $559,598,731,389.00
  • ethereumEthereum(ETH)$1,988.39-2.10%
    ETHEREUM
    24H : -2.10%
    Volume : $14,205,398,446.00
    Marketcap : $240,420,501,783.00
  • tetherTether(USDT)$1.000-0.10%
    TETHER
    24H : -0.10%
    Volume : $48,390,987,972.00
    Marketcap : $73,270,355,206.00
  • binancecoinBNB(BNB)$328.422.29%
    BNB
    24H : 2.29%
    Volume : $2,135,690,173.00
    Marketcap : $55,216,118,668.00
  • usd-coinUSD Coin(USDC)$1.00-0.13%
    USD COIN
    24H : -0.13%
    Volume : $5,595,786,824.00
    Marketcap : $53,219,435,866.00
  • rippleXRP(XRP)$0.413-2.01%
    XRP
    24H : -2.01%
    Volume : $1,817,923,128.00
    Marketcap : $19,945,904,055.00
  • binance-usdBinance USD(BUSD)$1.00-0.08%
    BINANCE USD
    24H : -0.08%
    Volume : $6,950,965,646.00
    Marketcap : $18,339,100,643.00
  • cardanoCardano(ADA)$0.522-3.59%
    CARDANO
    24H : -3.59%
    Volume : $663,508,552.00
    Marketcap : $17,648,575,997.00
  • solanaSolana(SOL)$49.95-4.13%
    SOLANA
    24H : -4.13%
    Volume : $1,515,233,025.00
    Marketcap : $16,962,404,402.00
  • dogecoinDogecoin(DOGE)$0.085-2.00%
    DOGECOIN
    24H : -2.00%
    Volume : $424,322,398.00
    Marketcap : $11,242,015,586.00
Cointelegraph.com.au
  • bitcoin
    BTC$29,371.00-2.69%
  • ethereum
    ETH$1,988.39-2.10%
  • tether
    USDT$1.000-0.10%
  • binancecoin
    BNB$328.422.29%
  • usd-coin
    USDC$1.00-0.13%
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us
    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us
    No Result
    View All Result
    Cointelegraph.com.au
    No Result
    View All Result
    Home News Ethereum News

    Bitcoin Open Interest Remains Elevated Post Dramatic Dip

    Cryptotelegraph by Cryptotelegraph
    December 4, 2021
    in Ethereum News
    Reading Time: 4 mins read
    4.2k 43
    0
    Bitcoin
    5k
    SHARES
    38.8k
    VIEWS
    Share on FacebookShare on Twitter

    Data shows Bitcoin open interest has remained high despite the dramatic sell-off that occurred a few days back due to fud from the new COVID variant.

    Bitcoin Open Interest Remains High Following The Sell-Off

    As per the latest weekly report from Arcane Research, the BTC open interest hasn’t fallen much in the past few days. This is despite the recent sell-off triggered by fresh fud from the new Omicron COVID variant.

    The “open interest” is an indicator that measures the amount of Bitcoin derivative contracts open at the end of a trading day.


    5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

    High values of the metric can mean there is excessive leverage in the market. This could lead to higher volatility in the price of the cryptocurrency.

    On the other hand, low values of the open interest may lead to lesser volatility as there isn’t much leverage in the market.

    Now, here is a chart that shows the trend in the value of this Bitcoin indicator over the past year:


    Get 110 USDT Futures Bonus for FREE!

    Bitcoin Open Interest

    Looks like the open interest has been very high recently | Source: The Arcane Research Weekly Update - Week 47

    As you can see in the above graph, the value of the Bitcoin open interest has remained quite high recently, despite the crash.

    The metric has been trending down when measured in the USD, but it has remained above a certain level when denominated in BTC.

    Related articles

    Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

    Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

    May 19, 2022
    Ripple (XRP) Price Picks Up As SEC Legal Showdown Drags On

    Ripple (XRP) Price Picks Up As SEC Legal Showdown Drags On

    May 19, 2022

    Related Reading | Bitcoin Aims Fresh Run To $60K, Why Bulls Could Face Hurdles

    Currently, the Bitcoin open interest sits around $22 billion, or 380k BTC. This is a high value when compared historically.

    Also, as the chart shows, the indicator’s value has remained above 365k BTC for more than a month now. It’s uncommon that these kind of high values are sustained for such a long time. As the report notes, this could mean the market currently has a lot of excess leverage.

    Related Reading | Exchanges See Bitcoin Outflows For 7th Straight Day As BTC Price Begins Recovery

    The graph also has curves showing the share of the major derivatives exchanges out of the total Bitcoin open interest.

    Following the launch of the futures-based ETF, CME’s share in the market saw a sizeable drop. However, yesterday the exchange’s share saw a sharp increase, and now its open interest share sits at 20%.

    Bybit’s open interest has seen significant growth recently. The report suggests that spikes in this exchange’s share have previously lead to sharp price fluctuations in Bitcoin so it might be worth paying attention to the upcoming trend of the exchange’s open interest.

    BTC Price

    At the time of writing, Bitcoin’s price floats around $57.3k, up 1.3% in the last seven days. The below chart shows the trend in the price of BTC over the past five days.

    Bitcoin Price Chart

    BTC's price shows recovery from the crash | Source: BTCUSD on TradingView
    Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
    Tags: bitcoinbitcoin futuresBitcoin Open interestbtcbtcusd

    Read More From Original Source

    Tags: bitcoinbitcoin futuresBitcoin Open InterestbtcBTCUSD
    Share2017Tweet1261
    Cryptotelegraph

    Cryptotelegraph

    CoinTelegraph is Australia’s number one source for cryptocurrency news, digital currencies and blockchain technology. We source the most reliable news content from around the web, leading influencers, CEO’s and PR and News Agencies, providing up-to-date news and insightful analysis. From technical price analysis, business news and community events. Cointelegraph covers the crypto industry with accurate and timely reports. So whether you’re trying to find the most up to date news on cryptocurrencies like; Bitcoin, Ethereum, XRP, EOS, NEO, Litecoin and various others. Or news regarding major ICOs which are presently trending and obtaining traction! Then look no further as CoinTelegraph is your number on resource tool.

    Related Posts

    Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

    Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

    by Cryptotelegraph
    May 19, 2022
    0

    These BIG3 NFTs might become one of this year’s most entertaining stories. The 3-on-3 basketball league created by Ice Cube...

    Ripple (XRP) Price Picks Up As SEC Legal Showdown Drags On

    Ripple (XRP) Price Picks Up As SEC Legal Showdown Drags On

    by Cryptotelegraph
    May 19, 2022
    0

    Ripple (XRP) rallied to $0.439217 Friday from $0.377384 on Thursday in the face of an ongoing Securities and Exchange Commission lawsuit...

    Blockchain Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation

    Blockchain Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation

    by Cryptotelegraph
    May 19, 2022
    0

    More than 5,505 Ether of the Ronin Bridge exploitation seems to be transferred through Tornado Cash, a unique privacy crypto...

    This Analyst Believes Ethereum May Lose 80% Of Its Value

    This Analyst Believes Ethereum May Lose 80% Of Its Value

    by Cryptotelegraph
    May 19, 2022
    0

    According to a recent Bloomberg article, John Roque of 22V research believes that Ethereum might fall to $420, a loss...

    Ethereum Hashrate Breaks All-Time High, Will Price Follow?

    Ethereum Hashrate Breaks All-Time High, Will Price Follow?

    by Cryptotelegraph
    May 19, 2022
    0

    Ethereum hashrate has been on the rise in recent times. The cryptocurrency has been one of the most profitable ventures...

    Load More
    • Trending
    • Comments
    • Latest
    Binary Bot 95%| Free Download

    Binary Bot 95%| Free Download

    March 12, 2020
    FREE BITCOIN CRYPTOTAB HACK SCRIPT 2020 , 14 BTC WORKING

    FREE BITCOIN CRYPTOTAB HACK SCRIPT 2020 , 14 BTC WORKING

    March 31, 2020
    𝗙𝗿𝗲𝗲 Blockchain fake bitcoin transaction software (R.B.F full option)

    𝗙𝗿𝗲𝗲 Blockchain fake bitcoin transaction software (R.B.F full option)

    February 16, 2020
    Blockchain   Bitcoin Miner V3 2  Best Blockchain Mining Tool    2020

    Blockchain Bitcoin Miner V3 2 Best Blockchain Mining Tool 2020

    June 27, 2020
    Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom Says This is Next

    Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom Says This is Next

    0
    Bitcoin to Be One of the 2020s’ Top Investments: Ex-Goldman Sachs Exec Says Why

    Bitcoin to Be One of the 2020s’ Top Investments: Ex-Goldman Sachs Exec Says Why

    0
    This Eerily Accurate Fractal Suggests Bitcoin Will Soon Explode to $12,000

    This Eerily Accurate Fractal Suggests Bitcoin Will Soon Explode to $12,000

    0
    Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020

    Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020

    0
    UST

    Nox Bitcoin To Refund UST At $1 To Their Customers

    May 23, 2022
    Bitcoin

    TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

    May 23, 2022
    Bitcoin

    Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

    May 24, 2022
    Ethereum

    Ethereum Could Tank Further; Here’s What The Charts Say

    May 23, 2022
    bitcoin Bitcoin
    $29,371.00
    $29,371.00
    EUR: €27,519.75
    GBP: £23,374.12
    7D Chart-2.69%
    ethereum Ethereum
    $1,988.39
    $1,988.39
    EUR: €1,863.06
    GBP: £1,582.41
    7D Chart-2.10%
    tether Tether
    $1.000
    $1.000
    EUR: €0.937
    GBP: £0.796
    7D Chart-0.10%
    ripple XRP
    $0.413
    $0.413
    EUR: €0.387
    GBP: £0.328
    7D Chart-2.01%
    cardano Cardano
    $0.522
    $0.522
    EUR: €0.489
    GBP: £0.415
    7D Chart-3.59%
    litecoin Litecoin
    $69.86
    $69.86
    EUR: €65.46
    GBP: £55.60
    7D Chart-2.06%
    bitcoin-cash Bitcoin Cash
    $193.28
    $193.28
    EUR: €181.10
    GBP: £153.82
    7D Chart-3.16%
    eos EOS
    $1.33
    $1.33
    EUR: €1.25
    GBP: £1.06
    7D Chart-3.20%

    Recent News

    UST

    Nox Bitcoin To Refund UST At $1 To Their Customers

    May 23, 2022
    Bitcoin

    TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

    May 23, 2022
    Bitcoin

    Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

    May 24, 2022

    Categories

    • Altcoin News
    • Altcoin Videos
    • Analysis
    • Bitcoin News
    • Bitcoin Videos
    • Blockchain Videos
    • Ethereum News
    • Ethereum Videos
    • ICO News
    • ICO Videos
    • News
    • Press Releases
    • Technology
    • Uncategorized
    Cointelegraph.com.au

    Bringing you the very latest crypto news and reviews from around the world.

    • About
    • Contact Us
    • Submit Press Release
    • Privacy Policy

    © 2019 Cointelegraph.com.au

    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us

    © 2019 Cointelegraph.com.au

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.