Open interest is climbing while price goes nowhere. That combo deserves attention.
Bitcoin futures open interest hit a five-week high of 686,000 BTC, even as $BTC closed October near $77,558, down 7.3% on the month (Investing.com). On top of that, U.S. spot ETFs saw $643.3 million of net outflows on Oct 30, the month's biggest daily exit.
More leverage plus weaker ETF demand can make moves sharper in either direction. My take: the $75K area is the level everyone is watching, and $ETH tends to follow BTC's lead.
Are you more worried about a leverage flush below $75K, or a squeeze back above $78K?
#Bitcoin #Futures #ETF #CryptoMarket
Not financial advice.
Bitcoin futures open interest hit a five-week high of 686,000 BTC, even as $BTC closed October near $77,558, down 7.3% on the month (Investing.com). On top of that, U.S. spot ETFs saw $643.3 million of net outflows on Oct 30, the month's biggest daily exit.
More leverage plus weaker ETF demand can make moves sharper in either direction. My take: the $75K area is the level everyone is watching, and $ETH tends to follow BTC's lead.
Are you more worried about a leverage flush below $75K, or a squeeze back above $78K?
#Bitcoin #Futures #ETF #CryptoMarket
Not financial advice.