The price of Bitcoin’s (BTC) has fallen 5.6% over the last seven days, ending three daily candles daily more than $ 80,000 for the first time since November 9, 2024.
GlassNode’s data emphasized Bitcoin and witnessed a 64% increase in futures over the same period. The analysis platform said, “This represents the reversal of last month.
The increase in the amount of futures suggests that market activities have been strengthened, but further analysis of wider futures markets showed more complex prospects. Bitcoin’s public interest (OI), which represents the total value of the unprecedented futures contract, has decreased 19% over the last two weeks.
Bitcoin gift volume chart of GlassNode. Source: x.com
This decrease suggests that some traders can close their positions or relieve their risks in relation to Bitcoin’s Bearish market structure rather than opening their positions during the increase in trading volume.
Total market liquidation chart. Source: COINGLASS
The total encryption liquidation has reached $ 2 billion from April 6 to April 8, further strengthening the possibility that traders will adopt a cautious approach.
Considering this data, it is a general suggestion that bitcoin may be in a conversion state. The surge in the amount of futures can represent the end of the correction stage and the beginning of the accumulation period by reflecting increasing interest and speculation activities. However, the decrease in public interest is emphasizing the dangerous -off approach, and merchants reduce exposure while maintaining macroeconomic uncertainty.
If the price of bitcoin is not recovered, you can see the start of the bear market while the amount of futures and the public interest converge. Similarly, the price increase of Bitcoin can be implied with OI and trading volume and can be climbed afterwards.
Related: Bitcoin -Analyst just before Bull Market’s largest ‘price cut’
Spot Bitcoin ETF leak is maintained at least
Major American stocks have declined more than 20% at the current high, and the S & P 500 has lost growth in a month. Traditional institutions may have faced a significant loss of losses over the past two weeks, but the Spot Bitcoin ETF leaked data has not yet reflected the market panic.
Total Spot BTC ETF flows data. Source: sosovalue
In the last two weeks, the total SPOT BTC ETF leak has been less than $ 300 million. This radiance emphasizes the elasticity of institutional investors in Bitcoin.
Unlike the sales found in the stock market, the limited outflow of the SPOT BTC ETF suggests that institutional investors are not yet embarrassed, and that they are watching Bitcoin as a hedge or maintaining trust in long -term value in traditional market turmoil.
Related: Bitcoin’s 24/7 liquidity: Double edited sword during global market turmoil
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.