The difference in the Crypto Futures market was constituted during the past week, as Bitcoin and Solana witnessed a violation against others.
Bitcoin, Solana witnessed a decrease in permanent future decades
In new mail On X, Glassnode spoke on the size of the latest trends about the latest trend in the open attention to Bitcoin and other coins in the encrypted currency sector.
“Open benefit” here refers to an indicator that measures the total amount of permanent future contracts related to a specific origin that is currently open to all central exchanges.
When the value of this scale rises, this means that investors open new sites in the permanent future contracts market. In general, the total leverage in the sector increases when this trend develops, and therefore the origin price can become more stable.
On the other hand, the indicator that records a decrease means that holders either close their will or obtain forced filter by their platform. This trend usually leads to a decrease in leverage, which can make the price law in a more stable way.
Now, first, here is the graph that shows the direction in the open interest of Bitcoin during the past week:
The value of the metric appears to have gone down inside this window | Source: Glassnode on X
As shown in the graph above, the Bitcoin Open benefit followed a total drop in this period, a sign that a net of centers has disappeared.
Interestingly, this trend has evolved along with an increase in the BTC price to $ 117,000. In general, gatherings attract a speculative activity, so the index tends to rise with them, but it seems that this was not the case.
Solana, the sixth coded currency, has seen the market ceiling, a similar path in its open interest during the past week, as the plan appears below.
The trend in the SOL Open Interest | Source: Glassnode on X
Consequently, it seems that both BTC and Sol have seen a slowdown in speculation activity, although their prices have witnessed a net increase during the past week. However, the same trend was not seen with some other digital assets.
The cryptocurrency number has witnessed only two to Bitcoin, Ethereum, an increase in the open interest, which means increasing demand between location investors.
Looks like the metric has gone up for ETH | Source: Glassnode on X
Analysis Company indicated that XRP and BNB also noticed a similar trend. Looking at this difference between the assets, it is possible that the ETH and the company are in the high fluctuations of BTC and Sol.
BTC price
Bitcoin has regained $ 117,900 on Wednesday, but it seems that the currency has seen a slight decline since it has now returned to $ 117,000.
How the price of the asset has moved during the last five days | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
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