Bitcoin volatility not shaking investor interest, recent dip sees $500M evaporation without major trend shift
Investor interest in Bitcoin holds steady despite dramatic $500M open interest dip...
- Bitcoin's open interest experienced substantial growth, followed by a contraction due to a flash crash in its value.
- The flash crash led to an approximate evaporation of half a billion dollars in open interest.
- Despite the dip, the overall open interest trends were not significantly altered.
- Bitcoin's open interest remains within the 1.8%-2% range of the market cap, aligning with the peak of the current channel.
- Over the past six weeks, Bitcoin's open interest has seen a steady growth of 6%, indicating continuous investor interest in the cryptocurrency.
- The cyclical pattern of open interest growth and shrinkage, combined with market cap fluctuations, highlights the unpredictable nature of the cryptocurrency market.
Go to publisher site
The article provides a neutral analysis of Bitcoin's open interest growth and shrinkage, emphasizing the unpredictability of the cryptocurrency market.
You May Ask
What caused the contraction in Bitcoin's open interest?How much open interest was lost due to the flash crash?Has the overall open interest trend been significantly affected by the dip?What is the current range of Bitcoin's open interest in relation to the market cap?How has Bitcoin's open interest changed over the past six weeks?