High open interest signals more leverage, which could induce another flush-out if positions are liquidated.
High-leverage liquidity in bitcoin is concentrated at around $58,500, according to Hyblock Capital.
Bitcoin price fell closer to $56,000, leading traders to question whether the bull market is coming to an end. US job market data could hold the answer.
“Liquidation data from exchanges are bogus and a vast underrepresentation of actual liquidation volumes in the market,” according to K33 Research.
Bitcoin bulls tend to celebrate when BTC’s funding rate is negative, but is it really a “generational buying opportunity?”
A slew of Bitcoin miners filed for bankruptcy in the crypto winter of 2022 but Hut 8 CEO Asher Genoot is adamant that things will be different after the upcoming halving.