Over $600M Locked in Open Dogecoin Futures as DOGE Price Hits Highest Since April
An increase in open interest alongside a rise in price is said to confirm an uptrend.
An increase in open interest alongside a rise in price is said to confirm an uptrend.
Short traders betting against higher bitcoin (BTC) prices lost some $90 million on Tuesday alone, adding on to the $70 million in short liquidations on Monday.
The sharp move higher from $42,000 Tuesday prompted $73 million in liquidations, mostly from leveraged positions betting on lower prices.
The latest price moves in crypto markets in context for Dec. 5, 2023.
Some analysts expect bitcoin to mature into a less volatile asset following the introduction of spot ETFs in the U.S, while others say potential “cash creation” structures will increase volatility.
The pullbacks have become less deep over the past three weeks, suggesting the building up of bullish sentiment, one observer said.
Historically, the exchange’s decision to list perpetual contracts tied to smaller tokens has marked major price tops for the those cryptocurrencies.
Notable booms include Loom Network’s LOOM, whose price surged approximately deri times over two months, and HIFI, whose prices spiked by 6,600% in September alone.
The latest price moves in crypto markets in context for Nov. 16, 2023.
Options market positioning and dovish Fed expectations indicate the path of least resistance is on the higher side.