• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

2025-07-24

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    2025-07-25

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09
  • Videos

    Major Signal Flashed!!!

    2025-07-25

    Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

    2025-07-24

    Why Did Bitcoin and Crypto Dump Today?

    2025-07-23

    Bitcoin Bulls Brace For Next Major Rally

    2025-07-23

    Wall Street’s Crypto Moves Just Got Exposed

    2025-07-23
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Bitcoin»Bitcoin Open Interest Hits Peak Since FTX Crash: What It Means
Bitcoin

Bitcoin Open Interest Hits Peak Since FTX Crash: What It Means

2023-08-09No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

In a market that has been relatively quiet for weeks, Bitcoin (BTC) has suddenly sprung to life, with its Futures Open Interest (OI) reaching levels not seen since the FTX crash. Open Interest, a metric that measures the total number of outstanding futures that have not been settled, provides a glimpse into the trading activity and potential future price movements of an asset. A surge in OI can indicate heightened trading activity and interest in the market.

Starting early Tuesday, Bitcoin’s price action surged by more than 3.5%, breaking the $30,300 mark for the second time this month. This movement began around 5 am EST, pushing the price to a 16-day-high. The catalyst behind this surge seemed to be the rumor that insiders at BlackRock and Invesco have confirmed that a Bitcoin spot ETF is not a question of “if” but “when”, suggesting an approval within the next four to six months.

“Bitcoin whales opened giga long positions at $29k,” remarked CryptoQuant CEO Ki Young Ju. The Head of Research at CryptoQuant further added, “A lot of talk lately about increasing probability of Bitcoin spot ETF approval in the US. Now Coinbase premium sharply up and moving towards positive territory (implies Bitcoin demand in the US is strengthening). GBTC price discount has continued to narrow.”

Bitcoin Futures Open Interest Skyrockets To Yearly High

Aggregate OI for Bitcoin futures saw a significant jump, increasing by over $1 billion from the previous day to a staggering $14.95 billion, according to Coinglass data.

Bitcoin futures open interest
Bitcoin futures open interest | Source: Coinglass

This surge marks the most substantial increase in over a month. However, derivatives activity on the CME, often seen as a gauge of institutional trading, remained relatively unchanged in OI, suggesting that the recent move might be predominantly retail-driven.

See also  Bitcoin On The Brink, Price Soars Above $68,000

Miles Deutscher commented on Twitter, “Bitcoin open interest is now at its highest level since the FTX collapse. This indicates increased BTC trading activity from market participants. Looks like a big move is brewing.” Similarly, James V. Straten observed, “Bitcoin open interest is now greater than 2.25% of the market cap, approaching YTD highs, and looks exceptionally overheated.”

FOI vs market cap
FOI vs market cap | Source: Twitter

The Kingfisher, a renowned data provider for Bitcoin derivatives, noted, “Coinbase selling into every other major exchange buying. Looks like Bybit & Bitmex degens are betting on another $BTC leg up. While Bitfinex seems to be selling here.”

On the options front, the analysts added that dealers seem bullish, ready to capitalize on both upward and downward movements. Their buying activity is currently stabilizing the price, while any significant upward trajectory could see them intensifying their buying. Meanwhile, the BTC liquidation map of The Kingfisher indicates that while there are still “some late high-leverage shorts to liquidate to the upside, but most of the short-term liquidity is down.”

Renowned analyst @52kskew provided insights into the BTC whale vs. algo divergence, stating, “Whales require quite thick liquidity to exit or close positions & most often this is during a squeeze event. Some firms will use algos in order to get the best price when closing out sizeable position (this is where TWAP algos come into play).”

Exit liquidity for whales
BTC whale vs. algo divergence | Source: Twitter @52Skew

CPI Release To Take Out The Heat?

Notably, the Consumer Price Index (CPI) in the US is scheduled for tomorrow, Thursday, 8:30 am EST. The release has the potential to cause a mass liquidation of the overheated BTC futures market in both directions. A major move by the BTC price seems imminent.

See also  Bitcoin shows short-term promise: Does this herald a recovery?

Forecasts suggest a rise in the headline CPI from 3% to 3.3% year-over-year (YoY) for July, marking a significant transition as the positive impacts from the prior year start to wane. Notably, the Cleveland Fed’s Inflation Nowcast model projects a 3.42% headline CPI, marginally surpassing general expectations. Core CPI is expected to slightly decline from 4.8% to 4.7% YoY.

At press time, the BTC price was just below key resistance at $30,000.

Bitcoin price
BTC price below key resistance, 4-hour chart | Source BTCUSD on TradingView.com

Featured image from BTCC, chart from TradingView.com

Bitcoin Crash FTX Hits Interest means open peak
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why Did Bitcoin and Crypto Dump Today?

2025-07-23

Bitcoin Bulls Brace For Next Major Rally

2025-07-23

Ain’t No Bacteria Poopin’ Bitcoin 😂

2025-07-23

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Videos

Bitcoin Unphased With MORE Tariff War Escalation

2025-04-11

Today, let’s discuss Bitcoin, Crypto, and the US Stock Market. There is more tariff news…

Videos

BUY NOW: BITCOIN WILL CHANGE EVERYTHING!

2024-11-18

The crypto market is where large wealth gains are made! Do you want $30000 in…

Altcoins

Galaxy Digital’s Founder Anticipates BTC Price Surge, Forecasts Bitcoin ETFs Approval In US

2023-07-13

Mike Novogratz, founder of Galaxy Digital Holdings Ltd., recently gave his views about Bitcoin’s future…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

2025-07-24

Why Did Bitcoin and Crypto Dump Today?

2025-07-23
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 118,215.67
ethereum
Ethereum (ETH) $ 3,768.40
xrp
XRP (XRP) $ 3.20
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 798.40
solana
Solana (SOL) $ 186.31
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23856
staked-ether
Lido Staked Ether (STETH) $ 3,762.26
tron
TRON (TRX) $ 0.320425
bitcoin
Bitcoin (BTC) $ 118,215.67
ethereum
Ethereum (ETH) $ 3,768.40
xrp
XRP (XRP) $ 3.20
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 798.40
solana
Solana (SOL) $ 186.31
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.23856
staked-ether
Lido Staked Ether (STETH) $ 3,762.26
tron
TRON (TRX) $ 0.320425