Glassnode says BTC coin-denominated open interest falls to March its lowest level since
BIBIBI
AT A GLANCE
Glassnode says that Bitcoin's rise has been accompanied by a decline in open interest, which may reduce the impact of leveraged liquidations.
Article
Viewpoint: Bitcoin open interest is at March its lowest level since, making the rise less susceptible to the impact of leveraged liquidations
BlockBeats news,September 29, glassnode stated in a post that Bitcoin is rising with lower leverage levels. The price has risen by August from the low, 35%, while coin-denominated open interest has declined by nearly 20%.
This has brought open interest to its lowest level since March, potentially making this rise less susceptible to the impact of leveraged liquidations.
Original link https://m.theblockbeats.info/flash/369570
Key points
01
Glassnode stated that the Bitcoin price rose from its August low by 35%。
02
Bitcoin's coin-denominated open interest declined by nearly 20%。
03
Open interest is at its lowest level since March.
04
Glassnode believes that this rise may be less susceptible to the impact of leveraged liquidations.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Open interest is the amount of derivatives contracts that have not yet been closed. The article states that while the Bitcoin price rose, the related contract positions instead declined, indicating that this rise was accompanied by lower leverage levels.
Why it matters to readers
If open interest is lower, a price rise may be less affected by cascading leveraged liquidations, but this is only the assessment presented in the article.
This indicates that a price rise does not necessarily mean the market is using large amounts of leverage; at the same time, leverage and liquidation risks still need to be assessed together with subsequent data.
Risks and unknowns
The above data and assessment were relayed by BlockBeats from Glassnode; the evidence does not provide independent verification.
“Less susceptible to the impact of leveraged liquidations” is a possibility assessment, not a definite conclusion.
The evidence does not provide subsequent data on open interest, funding rates, or liquidation volumes.
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Related concepts
Open Interest
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