Oh boy, here we go again! Bitcoin‘s (BTC) 90-day open interest, which is just a fancy way of saying the total dough in futures and contracts that haven’t been settled yet, is taking a nosedive. Amidst all the fear and loathing, Bitcoin (BTC) markets have entered the “deleveraging” phase. You know, that magical time when history shows us that traders can make a killing!
Bitcoin’s (BTC) Open Interest Plummets: Bulls, Get Your Running Shoes On!
So, the big kahuna of cryptocurrencies, Bitcoin (BTC), is seeing its numbers go south. CryptoQuant’s community expert, the mysterious @Darkfost_Coc, has the scoop. It’s like fewer and fewer traders are holding onto their leveraged positions. What’s the world coming to?
The BTC market is undergoing deleveraging
“This chart is like a beacon in the night, showing us those sweet reset phases when the 90-day open interest change goes negative. Every time this happens, it’s like a piñata for traders, just waiting to be smashed open for short-to medium-term gains.” – @Darkfost_Coc
— CryptoQuant.com (@cryptoquant_com) March 17, 2025
In the blink of an eye, Bitcoin’s 90-day OI went from a whopping $33.6 billion to a mere $23.1 billion. That’s a 31.2% haircut! It’s like Bitcoiners (BTC), especially those futures traders, are suddenly playing it safe. What’s next, seat belts on the trading floor?
But hey, the CryptoQuant experts say these “cool-down” phases are like a gift from the trading gods. Every time deleveraging hits, it’s like a piñata for traders around the world, just waiting to be smashed open for some juicy gains.
The last time we saw a big deleveraging party was before the spot Bitcoin ETF got the green light in the U.S. in early 2024, and during that lovely recession of Q4, 2022-Q1, 2023. Good times, good times.
As of press time, Bitcoin open interest on major exchanges is like a skydiver without a parachute. Wheee!
Crypto Market Fear: Back and Better Than Ever!
Bitcoin (BTC) is currently trading at $83,300, up a whopping 0.28% in the last 24 hours. And if that wasn’t exciting enough, the daily trading volume for BTC/USDT pairs almost doubled on major exchanges. Someone’s been busy!
But don’t get your hopes up too high. Pessimism is still the flavor of the day in the crypto market. The Crypto Fear and Greed Index is at a meager 32/100, which puts us squarely in the “fear” zone. Yikes!
Markets are probably biting their nails ahead of the March 18-19 FOMC meeting in the U.S. Who knows what monetary shenanigans they’ll cook up this time?
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2025-03-17 19:18