{"id":632190,"date":"2024-07-30T10:30:19","date_gmt":"2024-07-30T10:30:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632190"},"modified":"2024-07-30T09:36:10","modified_gmt":"2024-07-30T09:36:10","slug":"bitcoin-open-interest-39-5-billion","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-open-interest-39-5-billion\/","title":{"rendered":"Bitcoin Open Interest Taps New $39.5 Billion ATH, What\u2019s Next For Price?"},"content":{"rendered":"<p class=\"p2\">The <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-open-interest-69000-ath\/\">Bitcoin open interest<\/a> is a good indicator of how investors are viewing the cryptocurrency and what bets they\u2019re making. This is why the metric hitting a new all-time high is a big deal, carrying serious implications for the market. Once again, the Bitcoin open interest has set a new record and this could spell doom for the digital asset, even if just in the short-term.<\/p>\n<h2 class=\"p2\">Bitcoin Open Interest Sets New Record<\/h2>\n<p class=\"p2\">In an interesting turn of events, the Bitcoin open interest has now risen to a new all-time high. After hitting a record high of $39.03 billion back in May, the <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-open-interest-19-month-high\/\">open interest<\/a> had declined for a while, even dropping below $30 billion back in May.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-break-4000-price\/\">Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst<\/a><\/div>\n<p class=\"p2\">Following this, the <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-open-interest-2-year-high-btc-breaks-51000\/\">Bitcoin open interest fluctuated for a few months<\/a>, taking the price along with it for the ride. However, with the recovery in the market, the open interest has been rising once again, exploding to new highs as the BTC price shot for $70,000.<\/p>\n<p class=\"p2\">On Monday, the Bitcoin open interest saw a notable surge, rising a whopping $1.5 billion in a single day. This translated to a 5.94% rise in the 24-hour period, according to <a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\" rel=\"nofollow\">data<\/a> from Coinglasss and pushed the open interest above $39.5 billion, the highest on record s far.<\/p>\n<p class=\"p2\">The major surges in open interest came from exchanges such as Binance, Bybit, and OKX, all of which saw an average of an 8% increase in <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-open-interest-rsi-bear-divergence\/\">the Bitcoin open interest<\/a>. For example, the Binance Bitcoin futures open interest made a new all-time high of $9.05 billion.<\/p>\n<h2 class=\"p2\">Implications Of A New OI ATH<\/h2>\n<p class=\"p2\">The Bitcoin open interest reaching a new all-time high is indicative of increased interest as traders begin taking various positions in the cryptocurrency. However, in the past, when the <a href=\"https:\/\/ktsl888.com\/news\/grayscale-bitcoin-open-interest\/\">open interest<\/a> has reached new record highs, it has carried implications for the market.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-nvt-ratio-0-00003\/\">Shiba Inu\u2019s NVT Ratio Sees Drastic Increase, Is A Rise To $0.00003 Still Possible?<\/a><\/div>\n<p class=\"p2\">Back in March, when the <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-open-interest-rises-btc-breaks-27000\/\">Bitcoin open interest reached an ATH<\/a>, it indicated the top of the market, with the open interest falling over the next few months and the BTC price falling as well. Following the March ATH, the Bitcoin price saw a 20% drawdown less than two months later.<\/p>\n<p class=\"p2\">If this trend holds, then the recent ATH could be the signal for a decline. By Monday, the Bitcoin price had already started responding, falling from $70,000 to below $67,000 in a matter of hours before recovering. A continuation of this downtrend could easily send the Bitcoin price falling more than 10% from here again and reaching below $60,000.<\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/kYwVBbae\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC price holds $66,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin open interest is a good indicator of how investors are viewing the cryptocurrency and what bets they\u2019re making. This is why the metric hitting a new all-time high is a big deal, carrying serious implications for the market. Once again, the Bitcoin open interest has set a new record and this could spell doom for the digital asset, even if just in the short-term. Bitcoin Open Interest Sets New Record In an interesting turn of events, the Bitcoin open interest has now risen to a new all-time high. After hitting a record high of $39.03 billion back in May, the open interest had declined for a while, even dropping below $30 billion back in May. Related Reading: Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst Following this, the Bitcoin open interest fluctuated for a few months, taking the price along with it for the ride. However, with the recovery in the market, the open interest has been rising once again, exploding to new highs as the BTC price shot for $70,000. On Monday, the Bitcoin open interest saw a notable surge, rising a whopping $1.5 billion in a single day. This translated to a 5.94% rise in the 24-hour period, according to data from Coinglasss and pushed the open interest above $39.5 billion, the highest on record s far. The major surges in open interest came from exchanges such as Binance, Bybit, and OKX, all of which saw an average of an 8% increase in the Bitcoin open interest. For example, the Binance Bitcoin futures open interest made a new all-time high of $9.05 billion. Implications Of A New OI ATH The Bitcoin open interest reaching a new all-time high is indicative of increased interest as traders begin taking various positions in the cryptocurrency. However, in the past, when the open interest has reached new record highs, it has carried implications for the market. Related Reading: Shiba Inu\u2019s NVT Ratio Sees Drastic Increase, Is A Rise To $0.00003 Still Possible? Back in March, when the Bitcoin open interest reached an ATH, it indicated the top of the market, with the open interest falling over the next few months and the BTC price falling as well. Following the March ATH, the Bitcoin price saw a 20% drawdown less than two months later. If this trend holds, then the recent ATH could be the signal for a decline. By Monday, the Bitcoin price had already started responding, falling from $70,000 to below $67,000 in a matter of hours before recovering. A continuation of this downtrend could easily send the Bitcoin price falling more than 10% from here again and reaching below $60,000. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":632225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,84667,679,1119,89185,1122,1144,78790,54146],"class_list":["post-632190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-open-interest","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-open-interest"],"acf":[],"yoast_head":"\n<title>Bitcoin Open Interest Taps New $39.5 Billion ATH, What\u2019s Next For Price?<\/title>\n<meta name=\"description\" content=\"The Bitcoin open interest is a good indicator of how investors are viewing the cryptocurrency and what bets they\u2019re making.\" \/>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Open Interest Taps New $39.5 Billion ATH, What\u2019s Next For Price?","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-open-interest-39-5-billion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-open-interest-39-5-billion\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-open-interest.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-open-interest.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin open interest","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","open interest"],"dateCreated":"2024-07-30T10:30:19Z","datePublished":"2024-07-30T10:30:19Z","dateModified":"2024-07-30T10:30:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Open Interest Taps New $39.5 Billion ATH, What\\u2019s Next For Price?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-open-interest-39-5-billion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-open-interest-39-5-billion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-open-interest.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-open-interest.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin open interest\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"open interest\"],\"dateCreated\":\"2024-07-30T10:30:19Z\",\"datePublished\":\"2024-07-30T10:30:19Z\",\"dateModified\":\"2024-07-30T10:30:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-open-interest.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/632190"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=632190"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/632190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/632225"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=632190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=632190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=632190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}