A quant has explained that Bitcoin could end up seeing an extended drawdown if the past pattern in the Open Interest ends up repeating.
Bitcoin Open Interest Has Shown Similar Trajectory To November 2021 Recently
In a CryptoQuant Quicktake post, an analyst talked about the recent trend in the Bitcoin Open Interest. The “Open Interest” is a metric that measures the total amount of BTC derivative contracts (in USD) that are currently open on all exchanges.
When the value of this indictor rises, it means that users are opening up more derivative positions right now. Generally, the total leverage present in the sector increases when the Open Interest rises, so the price may become more likely to show some volatility following this trend.
On the other hand, a decline in the metric suggests some of the investors are either closing up their positions of their own volition or getting forcibly liquidated by their platform.
Usually, sharp decreases in the indicator accompany vio
We współpracy z: https://bitcoinist.com/bitcoin-see-more-pullback-think-quant-explains-why/
