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The open interest in Bitcoin trading is a crucial metric to assess the current feeling of the market on digital assets, including potential price movements.
In theory, an increase in bitcoin open interest suggests liquidity, which can also support a continuous price trend.
According to the latest Glassnode data, Bitcoin OI has increased from $ 57 billion to $ 37 billion, or a loss of 35%, because the best digital asset in the world has reached its top of all time.
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Interestingly, Bitcoin reached a summit of $ 108,786 on January 20, the day the American president Donald Trump was inaugurated for a second term.
Bitcoin Negotiate between $ 83,000 and $ 86,000, down more than 22% of its peak at the time of the editorial staff.
Bitcoin open of interest and its possible impact on the price
Investors and holders use open metrics to assess the feeling and potential performance of the asset market.
A digital asset with a drop in open interests means that traders and investors close their positions due to uncertainties or lack of confidence or move away from leverage.
The interests open in the long term have increased from $ 57 billion to $ 37 billion (-35%) since #BitcoinATH, signaling has reduced speculation and coverage activity. This decline reflects the contraction observed in chain liquidity, pointing to a wider risk behavior. pic.twitter.com/xpbxihxlrs
– glass node (@glassnode) March 20, 2025
In Glassnod’s analysis, the drop in Bitcoin OI reflects a broader trend in the decrease in activities and liquidity on the chain, where investors have less confidence in the assets.
The current Bitcoin status suggests that most investors are now considering short -term transactions for fast gains to the detriment of long -term positions.
There is a change of positions – Glassnode
According to Glassnode, traders and investors are now in the trade in cash and transport, with a weakening of long positions. He adds that CME’s term closures and FNB outputs reflect a change in investor strategy and are also added to sales pressure.
In addition, the availability of FNBs, which have less liquidity than future, can have an impact on the volatility of the short -term market in alpha cryptography.
The data highlight the metric of hot food
Glassnode also highlighted the metric of the hot food of the active. This is another important metric that follows Bitcoin holdings a week or less.
According to the same Thread Twitter / X, the figures went from 5.9% of the total BTC in circulation to 2.8%, reflecting a drop of more than 50% in the last three months.
The drop in hot supply suggests that less new bitcoins are exchanged on the market, which reduces the liquidity of the assets.
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Glassnode also painted a dark image for Bitcoin by explaining that the exchange entries went from 58,600 bitcoins per day to 26,900 bitcoins, a decrease of 54%.
This Bitcoin trend suggests lower demand because less active are moving to crypto exchanges.
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