Bitcoin and Ethereum see price declines as open interest drops, but no major sell-off occurs, and both assets show signs of recovery.
ended September on a volatile note, with both assets experiencing declines. Short-position traders dominated the market, driving long liquidation volumes higher.This decrease in OI generally signals lower liquidity, volatility, and interest in derivatives trading, which can potentially lead to a long/short squeeze.open interest also saw a slight decline, though less significant than Bitcoin’s. As of now, BTC’s open interest has bounced back to $18.3 billion, and ETH’s OI has risen to $9.
Open interest trends and exchange flows indicate that investors are not rushing to exit their positions, showing potential for recovery in the near term.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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