Open interest data from CoinGlass indicates a nearly $5 billion surge in bitcoin bets since Tuesday, signaling strong new money entering the market and an expectation for volatility.
Traders exhibit a clear bias towards long positions, reflected in the ratio of active buying volume to active selling volume. This trend suggests a growing confidence in bitcoin's future price performance.
While Bitcoin achieved a brief high of $64,000 due to the ongoing positive momentum, macroeconomic shifts and central bank decisions often drive the market sentiment and risk appetite among investors.
The steepening of the US 2Y/10Y treasury spread indicates a shift in market sentiment towards risk-on assets. This observation from QCP Capital highlights increasing optimism for speculative bets in cryptocurrencies.
Collection
[
|
...
]