Altcoin News Official TheBitTimes.com

According to CryptoQuant data, Bitcoin (BTC) open interest has climbed to a new all-time high of nearly $44.5 billion. The rise in BTC’s open interest came amid a price dip, which has raised some concerns about the asset’s performance. The development could signal a rise in leverage and higher risks of volatility and price swings. A 2021 study found that a rise in open interest amid a price dip could introduce a 30% rise in volatility. A similar pattern was observed in 2017, when BTC experienced a rise in open interest and was followed by a 70% correction within weeks. Exchanges could automatically sell off collateral to cover their losses. Source: CryptoQuant Will BTC Face A Correction? Source: Mynewsdesk.com While historically, Bitcoin (BTC) has faced corrections when similar events have taken place, a lot has changed over the last year. The ETF products have brought a lot of institutional money into BTC. This aspect of the equation was absent during the 2017 dip. BTC...

Derivatives activity surrounding XRP has surged sharply this week, with futures open interest climbing to $4.77 billion, its highest level since May 24, according to the latest CoinGlass data.  At the time of writing, XRP is trading at $2.31, reflecting a 1.22% decline over the past 24 hours and a 1.63% dip on the week, marking a notable uptick in trader positioning despite a minor decline in the underlying token’s spot price.  However, the growing open interest signals that market participants remain highly engaged, even as price consolidates. XRP futures open interest. Source: CoinGlass What futures open interest means for XRP Open interest in futures markets represents the total value of outstanding derivative contracts that have not yet been settled or closed. In other words, it tracks the number of active long and short positions in the market at any given time. A rising open interest, particularly when accompanied by growing volume, typically reflects...