{"id":414141,"date":"2020-02-10T17:00:09","date_gmt":"2020-02-10T17:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=414141"},"modified":"2020-02-10T16:55:45","modified_gmt":"2020-02-10T16:55:45","slug":"crypto-fireworks-bitmex-open-interest-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","title":{"rendered":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion"},"content":{"rendered":"

Over the weekend, Bitcoin broke back above $10,000 for the first time in 2020<\/a>, but an abrupt selloff caused an over $250 drop in less one minute<\/a> and pushed the crypto asset back below the important psychological level.<\/span><\/p>\n

But neither the move up or the rejection has caused a significant change in BitMEX Open Interest, suggesting that the fireworks the market is expecting have yet to come.<\/span><\/p>\n

Bitcoin’s Move Above $10,000 And Back Below Cause Drop in Open Interest<\/h2>\n

The crypto market and asset valuations are heavily determined by retail traders on top crypto exchanges doing battle via buy and sell orders of Bitcoin<\/a> and altcoins.<\/span><\/p>\n

No platform is more dominant in that respect \u2013 often dictating the ebb and flow of the crypto market itself \u2013 than BitMEX.<\/span><\/p>\n

Related Reading | Bitcoin is Setting Up For a Violent Long Squeeze, Which May Trigger New Lows<\/a><\/strong><\/em><\/p>\n

As more and more traders get into position on that platform, it causes a rise in a metric called Open Interest.<\/span><\/p>\n

Open Interest represents all of the cumulative value currently in position, ready to profit \u2013 or suffer losses \u2013 from the next major price movement in Bitcoin<\/a> and altcoins.<\/span><\/p>\n

For the past few weeks, Open Interest has been soaring, rising to some of the highest levels<\/a> the metric reaches before a massive move occurs, and Open Interest cools down while the short-term trend is chosen.<\/span><\/p>\n

\"bitmex<\/p>\n

Each time Open Interest spikes above $1 billion in USD value, or over 100,000 BTC at stake, an exceptionally powerful move will occur as a result of all the traders in position.<\/span><\/p>\n

Depending on the direction of the movement, many of the traders in position will take profit while others get liquidated or stopped out at a loss. The resulting action causes Open Interest to reduce to normal, stable levels before the cycle repeats.<\/span><\/p>\n

Right now, even despite a slow and sustained move to above $10,000<\/a>, and a subsequent, few hundred dollar rejection<\/a> to below the key FOMO trigger level, Open Interest remains well over $1 billion and 100,000 BTC, suggesting that the fireworks the crypto market has been expecting haven\u2019t arrived yet.<\/span><\/p>\n

Clearly, it\u2019s going to take a much more explosive move to cause traders to alter their positions. Longs continue to outweigh short positions across the most prominent crypto platforms by two to one, which could result in a dangerous long squeeze that causes Bitcoin to reach new lows<\/a>.<\/span><\/p>\n

\"bitcoin<\/p>\n

Crypto Market Expects Fireworks If BTC Can Hold Above $10,000<\/h2>\n

On the flip side, if Bitcoin<\/a> can continue its rally above $10,000, a strong push above the key level could cause FOMO like the crypto market hasn\u2019t seen since the peak of the crypto bubble of 2017.<\/span><\/p>\n

Back then, Bitcoin broke above $10,000, then not even a month later had reached an all-time high of $20,000.<\/span><\/p>\n

Related Reading | Bitcoin Futures Expiration, Soaring Open Interest Could Signal Major Move Ahead<\/a><\/strong><\/em><\/p>\n

Another strong break of $10,000 could cause similar results, which would finally be the powerful \u201cfireworks\u201d type move crypto traders are anticipating that would finally bring Open Interest on BitMEX back to normal levels.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Over the weekend, Bitcoin broke back above $10,000 for the first time in 2020, but an abrupt selloff caused an over $250 drop in less one minute and pushed the crypto asset back below the important psychological level. But neither the move up or the rejection has caused a significant change in BitMEX Open Interest, suggesting that the fireworks the market is expecting have yet to come. Bitcoin’s Move Above $10,000 And Back Below Cause Drop in Open Interest The crypto market and asset valuations are heavily determined by retail traders on top crypto exchanges doing battle via buy and sell orders of Bitcoin and altcoins. No platform is more dominant in that respect \u2013 often dictating the ebb and flow of the crypto market itself \u2013 than BitMEX. Related Reading | Bitcoin is Setting Up For a Violent Long Squeeze, Which May Trigger New Lows As more and more traders get into position on that platform, it causes a rise in a metric called Open Interest. Open Interest represents all of the cumulative value currently in position, ready to profit \u2013 or suffer losses \u2013 from the next major price movement in Bitcoin and altcoins. For the past few weeks, Open Interest has been soaring, rising to some of the highest levels the metric reaches before a massive move occurs, and Open Interest cools down while the short-term trend is chosen. Each time Open Interest spikes above $1 billion in USD value, or over 100,000 BTC at stake, an exceptionally powerful move will occur as a result of all the traders in position. Depending on the direction of the movement, many of the traders in position will take profit while others get liquidated or stopped out at a loss. The resulting action causes Open Interest to reduce to normal, stable levels before the cycle repeats. Right now, even despite a slow and sustained move to above $10,000, and a subsequent, few hundred dollar rejection to below the key FOMO trigger level, Open Interest remains well over $1 billion and 100,000 BTC, suggesting that the fireworks the crypto market has been expecting haven\u2019t arrived yet. Clearly, it\u2019s going to take a much more explosive move to cause traders to alter their positions. Longs continue to outweigh short positions across the most prominent crypto platforms by two to one, which could result in a dangerous long squeeze that causes Bitcoin to reach new lows. Crypto Market Expects Fireworks If BTC Can Hold Above $10,000 On the flip side, if Bitcoin can continue its rally above $10,000, a strong push above the key level could cause FOMO like the crypto market hasn\u2019t seen since the peak of the crypto bubble of 2017. Back then, Bitcoin broke above $10,000, then not even a month later had reached an all-time high of $20,000. Related Reading | Bitcoin Futures Expiration, Soaring Open Interest Could Signal Major Move Ahead Another strong break of $10,000 could cause similar results, which would finally be the powerful \u201cfireworks\u201d type move crypto traders are anticipating that would finally bring Open Interest on BitMEX back to normal levels.<\/p>\n","protected":false},"author":517,"featured_media":414143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,956,6664,54146],"class_list":["post-414141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitmex","tag-crypto","tag-open-interest"],"acf":[],"yoast_head":"\nCrypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion<\/title>\n<meta name=\"description\" content=\"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion\" \/>\n<meta property=\"og:description\" content=\"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-10T17:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-10T16:55:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony "The Bull" Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony "The Bull" Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion\",\"datePublished\":\"2020-02-10T17:00:09+00:00\",\"dateModified\":\"2020-02-10T16:55:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\"},\"wordCount\":512,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667\",\"keywords\":[\"bitcoin\",\"BitMEX\",\"crypto\",\"open interest\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\",\"url\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\",\"name\":\"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667\",\"datePublished\":\"2020-02-10T17:00:09+00:00\",\"dateModified\":\"2020-02-10T16:55:45+00:00\",\"description\":\"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667\",\"width\":1000,\"height\":667,\"caption\":\"crypto bitcoin fireworks\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"The Bull\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"The Bull\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion","description":"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion","og_description":"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.","og_url":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-02-10T17:00:09+00:00","article_modified_time":"2020-02-10T16:55:45+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg","type":"image\/jpeg"}],"author":"Tony \"The Bull\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"The Bull\" Severino","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/"},"author":{"name":"Tony \"The Bull\" Severino","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion","datePublished":"2020-02-10T17:00:09+00:00","dateModified":"2020-02-10T16:55:45+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/"},"wordCount":512,"commentCount":0,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667","keywords":["bitcoin","BitMEX","crypto","open interest"],"articleSection":["Bitcoin","Cryptocurrency Market News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","url":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","name":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667","datePublished":"2020-02-10T17:00:09+00:00","dateModified":"2020-02-10T16:55:45+00:00","description":"BitMEX Open Interest remains high despite Bitcoin breaking above $10,000, suggesting that the fireworks the crypto market expects are yet to come.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667","width":1000,"height":667,"caption":"crypto bitcoin fireworks"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion","url":"http:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-fireworks-bitmex-open-interest-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitmex","crypto","open interest"],"dateCreated":"2020-02-10T17:00:09Z","datePublished":"2020-02-10T17:00:09Z","dateModified":"2020-02-10T17:00:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Fireworks Yet to Come As BitMEX Open Interest Remains Over $1 Billion\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-fireworks-bitmex-open-interest-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-fireworks-bitmex-open-interest-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitmex\",\"crypto\",\"open interest\"],\"dateCreated\":\"2020-02-10T17:00:09Z\",\"datePublished\":\"2020-02-10T17:00:09Z\",\"dateModified\":\"2020-02-10T17:00:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/crypto-bitcoin-bitmex-open-interest-fireworks0shutterstock_33003520.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/414141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=414141"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/414141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/414143"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=414141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=414141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=414141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}