$BTC 𝘀𝘄𝘂𝗻𝗴 𝗮𝗯𝗼𝘂𝘁 $3K 𝗶𝗻 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀. 𝗢𝗽𝗲𝗻 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗯𝗮𝗿𝗲𝗹𝘆 𝗺𝗼𝘃𝗲𝗱.
Open interest is the number of futures contracts still open. On Binance's BTCUSDT perpetual it sits near 93,600 BTC, about $7.8B, almost exactly where it was a day ago.
Price dipped to about $81K and climbed back near $83.8K. Flat open interest on that swing means new positions and closed ones roughly cancelled out.
Price up with open interest up usually means fresh money. Price up with open interest down usually means shorts closing.
Which signal will you watch around Wednesday's CPI?
NFA.
#OpenInterest #Bitcoin #CryptoBasics
Open interest is the number of futures contracts still open. On Binance's BTCUSDT perpetual it sits near 93,600 BTC, about $7.8B, almost exactly where it was a day ago.
Price dipped to about $81K and climbed back near $83.8K. Flat open interest on that swing means new positions and closed ones roughly cancelled out.
Price up with open interest up usually means fresh money. Price up with open interest down usually means shorts closing.
Which signal will you watch around Wednesday's CPI?
NFA.
#OpenInterest #Bitcoin #CryptoBasics