{"id":486628,"date":"2022-03-22T22:00:56","date_gmt":"2022-03-22T22:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=486628"},"modified":"2024-06-11T14:18:36","modified_gmt":"2024-06-11T14:18:36","slug":"why-has-bitcoin-futures-open-interest-flatlined-factors","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-has-bitcoin-futures-open-interest-flatlined-factors\/","title":{"rendered":"Why Has Bitcoin Futures Open Interest Flatlined? Factors"},"content":{"rendered":"

Bitcoin trends higher in the last few days as it approaches the mid area around its current levels. The benchmark crypto has seen some relief in the past days but seems unlikely to fully reclaim its previous bullish momentum.<\/p>\n

Related Reading | Data: Bitcoin Long-Term Holder Supply Has Stagnated Since October High<\/a><\/strong><\/p>\n

At the time of writing, Bitcoin trades at $42,500 with a 4% profit in the last day and a 12% profit over the last two weeks.<\/p>\n

\"Bitcoin
BTC with minor gains on the daily chart. Source: BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n

As NewsBTC has been reporting, Bitcoin seems to be reacting to the U.S. Federal Reserve (FED) shift in monetary policy and the armed conflict between Russia and Ukraine. The financial institution announced a rate hike of 25 basic points (bps) for the coming months.<\/p>\n

This increment meets market expectations. No major announcement is expected from the FED in the short term.<\/p>\n

As for the armed conflict, attempts to reach a diplomatic solution have failed, with no clear winner on the battlefield. The parties seem to be at a stalemate.<\/p>\n

This tense calm has moved to the market and the uncertainty could lead Bitcoin into further consolidation between its current levels, and the high area around $30,000.<\/p>\n

In support of this thesis, Arcane Research records no major movements in Open Interest (OI) for the BTC-based derivatives sector. This metric has remained stable at around 360,000 BTC and 380,000 BTC since the start of 2022.<\/p>\n

As seen below, the OI for BTC futures has been moving sideways along the price of Bitcoin, as it registers a decrease in volatility. In other words, the BTC market could be experiencing a period of low activity which suggests no important trends in either direction.<\/p>\n

\"Bitcoin
Source: Arcane Research<\/figcaption><\/figure>\n

The Last Time Bitcoin Open Interest Hinted At Consolidation<\/h2>\n

The 30-day volatility for Bitcoin OI futures, as Arcane Research reported, saw a 1% low in March, and has trended a bit higher in the last two weeks. The metric currently stands at 1.5%.<\/p>\n

The research firm claims current trading activity has been lower than during a similar period of consolidation in 2021. Arcane Research added:<\/p>\n

Overall, the BTC denominated open interest remains relatively lofty at 370,000 BTC. We\u2019ve rarely seen open interest being maintained at such levels for such a long duration without any major squeeze setbacks such as those experienced during the spring and fall bull markets and bitcoin\u2019s short squeeze in July.<\/p><\/blockquote>\n

Additional data provided by Santiment indicates<\/a> Bitcoin\u2019s supply on exchanges has been trending down as the price of BTC consolidates.<\/p>\n

In June 2021, this metric saw a 6-month low as the market recovered from bearish price action. As BTC\u2019s price moved further up, the supply followed, but the cryptocurrency managed to score a new all-time high near $70,000.<\/p>\n

Related Reading |<\/strong> Ethereum Classic Gains 60% In One Week, Why The Merge Could Push Its Price Higher<\/a><\/strong><\/p>\n

The chart below could be hinting at a similar trend as supply on exchanges decreases, and the price consolidates.<\/p>\n

\"Bitcoin
Source: Santiment via Twitter<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin trends higher in the last few days as it approaches the mid area around its current levels. The benchmark crypto has seen some relief in the past days but seems unlikely to fully reclaim its previous bullish momentum. Related Reading | Data: Bitcoin Long-Term Holder Supply Has Stagnated Since October High At the time of writing, Bitcoin trades at $42,500 with a 4% profit in the last day and a 12% profit over the last two weeks. As NewsBTC has been reporting, Bitcoin seems to be reacting to the U.S. Federal Reserve (FED) shift in monetary policy and the armed conflict between Russia and Ukraine. The financial institution announced a rate hike of 25 basic points (bps) for the coming months. This increment meets market expectations. No major announcement is expected from the FED in the short term. As for the armed conflict, attempts to reach a diplomatic solution have failed, with no clear winner on the battlefield. The parties seem to be at a stalemate. This tense calm has moved to the market and the uncertainty could lead Bitcoin into further consolidation between its current levels, and the high area around $30,000. In support of this thesis, Arcane Research records no major movements in Open Interest (OI) for the BTC-based derivatives sector. This metric has remained stable at around 360,000 BTC and 380,000 BTC since the start of 2022. As seen below, the OI for BTC futures has been moving sideways along the price of Bitcoin, as it registers a decrease in volatility. In other words, the BTC market could be experiencing a period of low activity which suggests no important trends in either direction. The Last Time Bitcoin Open Interest Hinted At Consolidation The 30-day volatility for Bitcoin OI futures, as Arcane Research reported, saw a 1% low in March, and has trended a bit higher in the last two weeks. The metric currently stands at 1.5%. The research firm claims current trading activity has been lower than during a similar period of consolidation in 2021. Arcane Research added: Overall, the BTC denominated open interest remains relatively lofty at 370,000 BTC. We\u2019ve rarely seen open interest being maintained at such levels for such a long duration without any major squeeze setbacks such as those experienced during the spring and fall bull markets and bitcoin\u2019s short squeeze in July. Additional data provided by Santiment indicates Bitcoin\u2019s supply on exchanges has been trending down as the price of BTC consolidates. In June 2021, this metric saw a 6-month low as the market recovered from bearish price action. As BTC\u2019s price moved further up, the supply followed, but the cryptocurrency managed to score a new all-time high near $70,000. Related Reading | Ethereum Classic Gains 60% In One Week, Why The Merge Could Push Its Price Higher The chart below could be hinting at a similar trend as supply on exchanges decreases, and the price consolidates.<\/p>\n","protected":false},"author":535,"featured_media":486629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-486628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nWhy Has Bitcoin Futures Open Interest Flatlined? 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Has Bitcoin Futures Open Interest Flatlined? 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