Bitcoin rebounded 35% from its August low, but the open interest denominated in BTC actually fell by nearly 20%, pushing it straight to the lowest level since March.
Interesting, isn’t it? Even with so much leverage, people are still pulling out—this suggests the rally was driven by spot buyers using real money, not contract-driven hype. With open interest lying low, when things truly kick off later, there will be plenty of ammunition. Just keep an eye on this indicator and that’s it.
$BTC #chain data
Interesting, isn’t it? Even with so much leverage, people are still pulling out—this suggests the rally was driven by spot buyers using real money, not contract-driven hype. With open interest lying low, when things truly kick off later, there will be plenty of ammunition. Just keep an eye on this indicator and that’s it.
$BTC #chain data
