The share of Bitcoin-based contracts in total open interest across crypto futures fell to 38% ($30.45 billion), the lowest reading in two years. These observations were shared by CoinDesk analyst Omkar Godbole.
The shift in the segment points to a revival of investors’ risk appetite. Such a situation is usually observed after a notable uptrend in Bitcoin, said Godbole.
Since the start of the year, Bitcoin has risen more than 150%, Ethereum 86%. The Bitcoin dominance index stands at 48.2%.
Solana has shown the most impressive growth of late. Its price recently reached a new yearly high above $115, allowing the asset to rise to the fourth place in CoinGecko’s ranking.
The founder of trading platform Eight, Michael van de Poppe predicted that in the first quarter “Ethereum will outpace the markets.”
Earlier, ForkLog reported that institutional investors on the Chicago Mercantile Exchange increased their appetite for risk linked to Bitcoin.