EddieJayonCrypto

 19 Dec 23

tl;dr

Bitcoin market volatility has led to a more than 5% plunge in the asset this week, largely driven by derivatives traders and over-leveraged positions. Open interest in Bitcoin was around $12 billion and Binance represents the largest individual chunk of that open interest with high funding rates. By...

Bitcoin market volatility has led to a more than 5% plunge in the asset this week, largely driven by derivatives traders and over-leveraged positions. Open interest in Bitcoin was around $12 billion and Binance represents the largest individual chunk of that open interest with high funding rates. ByBit users were liquidated but started re-opening positions to push open interest back up. Leverage flushes can be identified when Bitcoin or Ethereum price action is in the same category as altcoins.

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 19 Sep 24
 19 Sep 24
 19 Sep 24