Analyst: BTC Futures Market Enters Healthy Deleveraging Phase After Liquidation Spike, OI Contraction a Positive Signal
BlockBeats News, April 20th. Cryptocurrency market analyst Axel announced on social media that on April 17th, the BTC futures market saw approximately $526 million in short liquidations in a single day. The open interest (OI) did not increase leverage after reaching a peak of 319,499 BTC, instead falling back to 293,045 BTC. The liquidation dominance indicator has turned positive after two weeks of being negative, indicating the end of a systemic short squeeze phase. The current price is holding steady in the 75,000-76,000 range as OI shrinks, forming a constructive structure of "cooling down after the short squeeze" rather than a new round of overheating. The next key focus is whether the OI will rise back above 300,000 BTC when the price attempts to break out.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Boeing (BA.US) Max 10 certification expected to be announced next week, adding new leverage for debt relief
The Boeing 737 Max 10 has completed key certification meetings and could be approved as early as next week. As Boeing's largest variant to rival Airbus, this model will help airlines replace aging 757s and is expected to become a cash cow for Boeing to reduce its debt.
Foreign holdings of US Treasuries rebounded in August, with UK holdings surpassing $1 trillion for the first time
In August, foreign holdings of U.S. Treasury bonds increased by over 83 billions USD, with Canada and Belgium leading the increase; meanwhile, holdings by Japan and China continued to decline to multi-year lows, and for the first time, the UK's holdings surpassed 1 trillion USD.
Strive's bitcoin holdings increased to 35,595, and TD Cowen raised its target price to $56.
New York Federal Reserve Survey: Service Sector Price Increases Hit Fastest Pace Since 2022, Business Activity Index Drops to Lowest Since March
A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.
Crypto prices
More
