Glassnode said on Sept. 18 that leverage in the altcoin market remains below its risk threshold, suggesting conditions have not yet reached an overheated stage. The firm pointed to the gap between altcoin open interest share and Bitcoin open interest share as a key signal. According to its framework, the market is usually considered overheated when that gap narrows to within a few percentage points. Glassnode said that condition has not appeared at this stage. Based on that reading, the firm said the current setup leaves room for further upside in altcoins. The statement was cited by BlockBeats in a brief market update.
Glassnode said on Sept. 18 that leverage in the altcoin market remains below its risk threshold.
According to the firm, the market is usually in an overheated state when the gap between altcoin open interest share and Bitcoin open interest share narrows to within a few percentage points. Glassnode said that condition has not emerged so far.
That leaves room for further gains in altcoins, based on the firm’s assessment.
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