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Altcoin dominance in open interest replaces Bitcoin, Joao Wedson notes

Altcoin dominance in open interest replaces Bitcoin, Joao Wedson notes
Altcoins lead crypto derivatives open interest

Open interest in the crypto derivatives market is now dominated by altcoins at 57.4 percent, compared to a previous period when Bitcoin controlled more than 90 percent. Joao Wedson commented that leverage, speculation, and liquidation risk are no longer concentrated primarily in Bitcoin.

Joao Wedson previously stated that altcoin season is not expected until 2027, referencing various contributing factors in his outlook published here. He also reported notable price declines in Solana and Hyperliquid since October 6, with drops of 14.08 percent and 15.86 percent respectively in a separate update. These earlier comments provide context for the current focus on altcoin derivatives activity.

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.

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