Bitcoin futures open interest has moved close to its lowest level of the year, according to a Techub News brief citing CoinDesk. The report said short sellers are paying a premium to position for additional price declines, a sign that bearish bets are gaining traction in the derivatives market. Data cited in the brief also showed that open interest in Bitcoin futures has been falling लगातार in recent sessions, pointing to weaker participation alongside a negative market bias. Taken together, the drop in open interest and the premium paid by shorts suggest traders are leaning toward further downside in Bitcoin, with sentiment in the market described as bearish.
Bitcoin futures open interest is drifting close to its lowest point of the year, and traders betting on more downside are paying extra for those short positions, according to CoinDesk, as cited by Techub News.
The figures showed Bitcoin futures open interest has kept sliding lately. The mood in the market? Bearish.
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