Joao Wedson: Open interest delta sees historic decline in USD terms

Joao Wedson: Open interest delta sees historic decline in USD terms
Open interest drops in USD, positive in coins

Joao Wedson highlights that the 365 day open interest delta across 30 exchanges has marked the second largest decline on record when measured in USD.

However, Joao Wedson notes that when the same metric is analyzed in terms of coins rather than USD, the delta stays positive. This suggests that despite the large decline in USD value, open interest is still holding steady in cryptocurrency terms.

Joao Wedson recently warned that $1.4 billion in Bitcoin positions could be liquidated if prices fall to $53,500 as traders increase leverage, according to a previous note. Earlier, he suggested Bitcoin's price bottom might occur before the launch of GTA 6 and anticipated a shift in crypto market sentiment after that event, as outlined in another report. These updates provide further context for shifts in open interest and trader positioning.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Weekly Top Bonuses
up to $2,500
deposit bonus for all clients
CLAIM BONUS
Your capital is at risk.