- ETH’s open interest has increased by 15% in two days.
- With a BTC Spot ETF approval now granted, market volatility has set in.
The derivatives market for Ethereum [ETH] has witnessed a dramatic surge in recent days, with open interest reaching multi-week highs, according to data from CryptoQuant.
This sudden spike in activity started after a now-debunked announcement emerged from the U.S. Securities and Exchange Commission’s (SEC) X account (formerly Twitter) stating that the regulator had given its approval for a Bitcoin-based exchange-traded fund (ETF).
At press time, ETH’s open interest across all exchanges was $6.4 billion, rising by 15% since the fake post was made on 9th January.
Source: CryptoQuant
When an asset’s open interest climbs in this manner, it indicates more activity in the derivatives market for that coin. It could be that more people are entering or exiting positions, hedging their bets, or speculating on the price.
If the hike in open interest sees a corresponding uptick in price, it suggests new money is entering the market, potentially pushing the price further up. This has been the case for ETH, whose value has risen by double digits since 9th January, according to data from CoinMarketCap.
An assessment of the coin’s funding rates across derivative crypto exchanges confirmed this bullish trend. Since the open interest began to rally, ETH’s funding rates have been positive.
This suggested that most of the trading positions opened since 9th January have been in favor of continued price growth.
With ETH’s price climbing, several short positions are being liquidated. According to data from Coinglass, as of 10th January, short positions worth $61.33 million were wiped off the market, compared to the $28.03 long liquidations recorded on the same day.
Now that Bitcoin ETFs are here
In a later announcement on 10th January, SEC’s Chairman Gary Gensler confirmed the agency’s approval of all 11 spot Bitcoin [BTC] ETF applications.
The long-awaited approval has since led to a rise in ETH trading activity in the last 24 hours. With an 80% growth in trading volume during that period, its price has increased by 10%, according to data from CoinMarketCap.
ETH’s price movements observed on a 12-hour chart confirmed the uptick in coin accumulation, with key momentum indicators pegged at overbought highs.
At press time, the coin’s Relative Strength Index (RSI) was 73.64, while the Money Flow Index (MFI) was 79.53.
Source: TradingView
Realistic or not, here’s ETH’s market cap in BTC terms
However, the price growth has led to a gradual upswing in market volatility. According to readings from ETH’s Bollinger Bands indicator, as of this writing, the upper and lower gaps that comprise this indicator were starting to widen.
When these gaps widen, it indicates a rise in volatility. It often means that an asset’s price is experiencing larger swings than usual.
- ETH’s open interest has increased by 15% in two days.
- With a BTC Spot ETF approval now granted, market volatility has set in.
The derivatives market for Ethereum [ETH] has witnessed a dramatic surge in recent days, with open interest reaching multi-week highs, according to data from CryptoQuant.
This sudden spike in activity started after a now-debunked announcement emerged from the U.S. Securities and Exchange Commission’s (SEC) X account (formerly Twitter) stating that the regulator had given its approval for a Bitcoin-based exchange-traded fund (ETF).
At press time, ETH’s open interest across all exchanges was $6.4 billion, rising by 15% since the fake post was made on 9th January.
Source: CryptoQuant
When an asset’s open interest climbs in this manner, it indicates more activity in the derivatives market for that coin. It could be that more people are entering or exiting positions, hedging their bets, or speculating on the price.
If the hike in open interest sees a corresponding uptick in price, it suggests new money is entering the market, potentially pushing the price further up. This has been the case for ETH, whose value has risen by double digits since 9th January, according to data from CoinMarketCap.
An assessment of the coin’s funding rates across derivative crypto exchanges confirmed this bullish trend. Since the open interest began to rally, ETH’s funding rates have been positive.
This suggested that most of the trading positions opened since 9th January have been in favor of continued price growth.
With ETH’s price climbing, several short positions are being liquidated. According to data from Coinglass, as of 10th January, short positions worth $61.33 million were wiped off the market, compared to the $28.03 long liquidations recorded on the same day.
Now that Bitcoin ETFs are here
In a later announcement on 10th January, SEC’s Chairman Gary Gensler confirmed the agency’s approval of all 11 spot Bitcoin [BTC] ETF applications.
The long-awaited approval has since led to a rise in ETH trading activity in the last 24 hours. With an 80% growth in trading volume during that period, its price has increased by 10%, according to data from CoinMarketCap.
ETH’s price movements observed on a 12-hour chart confirmed the uptick in coin accumulation, with key momentum indicators pegged at overbought highs.
At press time, the coin’s Relative Strength Index (RSI) was 73.64, while the Money Flow Index (MFI) was 79.53.
Source: TradingView
Realistic or not, here’s ETH’s market cap in BTC terms
However, the price growth has led to a gradual upswing in market volatility. According to readings from ETH’s Bollinger Bands indicator, as of this writing, the upper and lower gaps that comprise this indicator were starting to widen.
When these gaps widen, it indicates a rise in volatility. It often means that an asset’s price is experiencing larger swings than usual.
clomiphene nz prescription where buy cheap clomiphene no prescription how to buy generic clomiphene no prescription how to get cheap clomid no prescription good rx clomiphene where to get cheap clomid without prescription buying cheap clomid without dr prescription
Greetings! Jolly gainful suggestion within this article! It’s the petty changes which will obtain the largest changes. Thanks a a quantity in the direction of sharing!
Proof blog you possess here.. It’s obdurate to find great calibre belles-lettres like yours these days. I really comprehend individuals like you! Rent care!!
azithromycin usa – cost tinidazole 300mg purchase metronidazole online
order rybelsus 14mg pills – rybelsus us oral cyproheptadine 4 mg
motilium ca – cyclobenzaprine 15mg over the counter flexeril sale
inderal 10mg canada – plavix 150mg uk cost methotrexate 10mg
amoxil pills – cheap valsartan ipratropium drug
azithromycin oral – order generic bystolic order bystolic 5mg generic
buy augmentin 375mg pills – atbio info brand ampicillin
buy esomeprazole 40mg for sale – anexa mate buy esomeprazole 40mg pills
oral warfarin – https://coumamide.com/ order cozaar pills
mobic buy online – relieve pain order meloxicam pill
deltasone online – aprep lson buy prednisone 5mg online
buy ed pills canada – fastedtotake.com where to buy ed pills without a prescription
buy generic amoxicillin over the counter – https://combamoxi.com/ amoxil price
buy forcan generic – https://gpdifluca.com/# diflucan 200mg pills
purchase cenforce sale – order cenforce 50mg online cheap buy cheap generic cenforce
buy liquid tadalafil online – click cialis tadalafil tablets
comprar tadalafil 40 mg en walmart sin receta houston texas – https://strongtadafl.com/ cialis canada free sample
viagra buy walgreens – https://strongvpls.com/ how to order viagra in india
This is a theme which is near to my callousness… Many thanks! Unerringly where can I find the phone details in the course of questions? gnolvade.com
Greetings! Extremely gainful suggestion within this article! It’s the petty changes which wish obtain the largest changes. Thanks a a quantity towards sharing! https://ursxdol.com/sildenafil-50-mg-in/
Palatable blog you procure here.. It’s severely to find strong quality article like yours these days. I really appreciate individuals like you! Take vigilance!! https://prohnrg.com/product/loratadine-10-mg-tablets/
This is the kind of topic I have reading. https://aranitidine.com/fr/en_france_xenical/
More posts like this would prosper the blogosphere more useful. how to buy motilium online
More content pieces like this would insinuate the интернет better. http://bbs.yongrenqianyou.com/home.php?mod=space&uid=4272505&do=profile
order forxiga 10 mg sale – https://janozin.com/ forxiga 10mg us
where to buy xenical without a prescription – https://asacostat.com/ xenical 120mg brand