Bitcoin's funding rates and open interest are surging, indicating heightened market activity. The number of BTC whales continues to grow.
Bitcoin’s market sees rising annualized funding rates, surging open interest, and growing interest from BTC whales, indicating evolving trader behaviour.One notable development was the surge in Bitcoin’s annualized funding rate, which reached a two-month high of over 7.5%. This rate signifies the cost of holding a position in Bitcoin, influencing how traders approach the market.
Concurrently, Bitcoin’s open interest also soared to a two-month high as well. Elevated open interest often suggests a growing level of participation in the market. Additionally, there was an expansion of Bitcoin’s 25 Delta Skew in recent days. This Skew is used to gauge options traders’ perception of potential large price movements.
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