{"id":19023,"date":"2024-11-29T10:04:04","date_gmt":"2024-11-29T08:04:04","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-futures-open-interest-surpasses-60-billion\/"},"modified":"2024-11-29T10:04:04","modified_gmt":"2024-11-29T08:04:04","slug":"bitcoin-futures-open-interest-surpasses-60-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-futures-open-interest-surpasses-60-billion\/","title":{"rendered":"Bitcoin Futures Open Interest Surpasses $60 Billion"},"content":{"rendered":"<p>On November 29, the total open interest (OI) in bitcoin futures reached approximately $61 billion, down from a record ~$64 billion the previous week. This is according to data from <a href=\"https:\/\/www.coinglass.com\/pro\/futures\/OpenInterest\">Coinglass<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1331.webp\" alt=\"1-1331\" class=\"wp-image-246332\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>Over five weeks, the metric has grown by more than half. Bitfinex <a href=\"https:\/\/www.theblock.co\/post\/328651\/trump-win-fuels-bitcoin-derivatives-boom-as-futures-open-interest-surges-over-60-billion\">stated<\/a> that this does not pose an imminent risk of market correction, describing the increase in OI as &#8220;organic.&#8221;<\/p>\n<p>They attribute the trend to expectations of future price increases.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We do not consider the recent increase in <\/em><em>leverage<\/em><em> through futures to be unusual. The retesting of the $93,000 area by the price is seen as a normal pullback,&#8221;<\/em> the experts noted.<\/p>\n<\/blockquote>\n<p>Bitget CEO Gracy Chen linked the rise in OI to confidence in an improving operational environment for the blockchain industry, which will allow &#8220;bitcoin to thrive.&#8221; According to her, <a href=\"https:\/\/en.m.wikipedia.org\/wiki\/Long_squeeze\">long squeezes<\/a> can stabilize the market in situations of excessive leverage.<\/p>\n<p>Following the correction, some metrics of digital gold indicate a continuation of the bull run with a target of $146,000, according to CryptoQuant.<\/p>\n<p>Earlier, experts described the current pullback in the price of the first cryptocurrency as a pause before a rise to $100,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 29, the total open interest (OI) in bitcoin futures reached approximately $61 billion, down from a record ~$64 billion the previous week. This is according to data from Coinglass. Data: Coinglass. Over five weeks, the metric has grown by more than half. Bitfinex stated that this does not pose an imminent risk of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1168,1145],"class_list":["post-19023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19023"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19022"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}