As prices kept falling, how did OI still increase by nearly $1.5 billion? That doesn’t mean “someone is buying the dip.”
Cointelegraph, citing Glassnode, reported that the value of BTC open interest increased by nearly $1.5 billion during the recent downturn. OI measures the size of open contracts—not net inflows or the number of longs—and on its own, it can’t tell you which way the market is leaning.
Perpetual futures funding rates are usually positive when longs pay shorts, and negative when the reverse is true. When leveraged positions trigger liquidations, forced selling can also drive price swings and set off another round of liquidations.
I’d look at three things: how price and OI move together, whether funding rates remain tilted to one side, and which side is seeing concentrated liquidations. None of these tells the whole story on its own, and leverage can magnify losses. Which would you look at first?
#合约知识 #风险观察 $BTC
Cointelegraph, citing Glassnode, reported that the value of BTC open interest increased by nearly $1.5 billion during the recent downturn. OI measures the size of open contracts—not net inflows or the number of longs—and on its own, it can’t tell you which way the market is leaning.
Perpetual futures funding rates are usually positive when longs pay shorts, and negative when the reverse is true. When leveraged positions trigger liquidations, forced selling can also drive price swings and set off another round of liquidations.
I’d look at three things: how price and OI move together, whether funding rates remain tilted to one side, and which side is seeing concentrated liquidations. None of these tells the whole story on its own, and leverage can magnify losses. Which would you look at first?
#合约知识 #风险观察 $BTC