Bitcoin Open Interest Crashes By $4.5 Billion In One Weekend, Spells Doom For Bulls
Bitcoin open interest It crashed at billions of dollars on a weekend, looking at the prospects of flagship cryptocurrencies, and spelling bad luck for BTC Bulls. Despite such setbacks, encrypted analysts provide some optimistic attitudes to their analysis, which suggests the reversal of the bullish.
On the weekend, the open interest of Bitcoin collapsed at $ 4.5 billion
Small shop data It shows that on the weekend, Bitcoin’s interest in the opening of Bitcoin fell to $ 4.5 billion, from $ 65 billion to $ 61.5 billion. This is due BTC price collapseEssence Further data from Coinglass shows that in the past 24 hours, more than $ 2 billion has been eliminated from the Bitcoin market.
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During this period, the Bitcoin Bull liquidated 1.88 billion US dollars, which led to a crash accident. BTC’s open interestEssence This is the prospect of the flagship cryptocurrency and the bulls in danger, because the bear looks firmly controlled. For the context, weekend, Bitcoin decreased from more than $ 100,000 to as low as 92,000 US dollars.
The price crash of Bitcoin occurred this time US President Donald Trump It announced 25 % tariffs on Mexico and Canada and 10 % of China’s commodity tariffs. Mexico and Canada retaliated through tariffs on goods in the United States, and China also implied tariffs on American goods.
Bitcoin’s open interest seems unlikely to recover in the short term, because due to economic uncertainty, market participants can choose to stay away from the market. This happens in the doom of Bitcoin Bull, because if no buyer defends BTC at these levels, flagship cryptocurrencies may decline.
With the collapse of open interest, bitcoin is a bit positive
In X post, encrypted analyst Ali Martinez (Ali Martinez) It is revealed that 65.75 % of the two -money traders with Bitcoin futures positions are rising. This is the optimistic of BTC prices, because these traders have correct records in most cases. Therefore, flagship cryptocurrency can rebound from the current price level.
In X post, encrypted analyst Cryptocurrency Titan It means that the broader trend of Bitcoin prices is still rising. This is he revealed that BTC has established a new range between $ 104,400 and $ 93,600. Encrypted analysts pointed out that in the short term before the range was broken, the short -term direction was still uncertain. However, in the long run, the Titan of cryptocurrencies has confidence, and a broader trend is still rising.
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At the same time, the famous writer and financial expert Robert Kiyosaki It is recommended that this is not time to panic, because it is a chance to buy bitcoin, and then sell it.
When writing this article, the transaction price of Bitcoin prices was about $ 94,000, a decrease of more than 6 % in the past 24 hours. data From Coinmarketcap.
Charts from special images from IStock, tradingView.com
