{"id":480712,"date":"2022-01-10T19:00:42","date_gmt":"2022-01-10T19:00:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480712"},"modified":"2024-06-11T07:45:27","modified_gmt":"2024-06-11T07:45:27","slug":"bitcoin-open-interest-rise-short-squeeze-incoming","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-open-interest-rise-short-squeeze-incoming\/","title":{"rendered":"Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?"},"content":{"rendered":"

On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. This could mean that a short squeeze may be coming soon.<\/p>\n

Bitcoin Open Interest Rises Despite Decline In Price<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the BTC open interest has shown uptrend over the past month, despite the price of the crypto moving down.<\/p>\n

The “open interest<\/a>” is an indicator that measures the total amount of Bitcoin futures contracts that are currently open in the market.<\/p>\n

When the value of the metric moves up, it means more investors are opening long or short contracts on derivative exchanges. This may mean that leverage is going up in the market, and thus such a trend can lead to higher volatility in the price of the crypto.<\/p>\n

On the other hand, a decline in the metric suggests holders have started to close their positions. A plunge in the indicator happens when Bitcoin makes a strong price swing, forcing mass liquidations of the contracts.<\/p>\n

Such liquidations cascade together and amplify the price move. This event is called a long or short squeeze, depending on which contracts make up the majority.<\/p>\n

R<\/strong>elated Reading |\u00a0Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July<\/a><\/strong><\/em><\/p>\n

Now, here is a chart that shows the trend in the Bitcoin open interest over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The indicator's value seems to be trending up | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the Bitcoin open interest has been going up, despite the price moving down. This is different from the trend around the $69k top as there longs made up the majority and hence the open interest followed the price.<\/p>\n
Related Reading |\u00a0Why Bitcoin Could Frustrate Bulls And Bears In 2022<\/a><\/strong><\/em><\/p>\n
The higher percentage of futures contracts looks to be short holders this time as the indicator has been moving opposite to the price.<\/p>\n
BTC Estimated Leverage Ratio Continues To Reach New Highs<\/h2>\n
Another metric, the “Estimated leverage ratio<\/a>,” measures the average amount of leverage that each futures holder is making use of.<\/p>\n
This indicator has been making new highs recently, suggesting that short holders are taking a lot of leverage risk right now. The below chart shows this trend.<\/p>\n
<\/p>\n
Leverage in the market moves up | Source: CryptoQuant<\/a><\/pre>\n
Such a large amount of leverage has historically lead to a flush sooner or later. And since this time the derivatives market is dominated by short holders, a short squeeze event could take place.<\/p>\n
At the time of writing, Bitcoin’s price<\/a> floats around $41.6k, down 12% in the past week. Below is a chart that shows the trend in the price of BTC over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
BTC's price has moved sideways in the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. This could mean that a short squeeze may be coming soon. Bitcoin Open Interest Rises Despite Decline In Price As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shown uptrend over the past month, despite the price of the crypto moving down. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts that are currently open in the market. When the value of the metric moves up, it means more investors are opening long or short contracts on derivative exchanges. This may mean that leverage is going up in the market, and thus such a trend can lead to higher volatility in the price of the crypto. On the other hand, a decline in the metric suggests holders have started to close their positions. A plunge in the indicator happens when Bitcoin makes a strong price swing, forcing mass liquidations of the contracts. Such liquidations cascade together and amplify the price move. This event is called a long or short squeeze, depending on which contracts make up the majority. Related Reading |\u00a0Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July Now, here is a chart that shows the trend in the Bitcoin open interest over the past year: The indicator’s value seems to be trending up | Source: CryptoQuant As you can see in the above graph, the Bitcoin open interest has been going up, despite the price moving down. This is different from the trend around the $69k top as there longs made up the majority and hence the open interest followed the price. Related Reading |\u00a0Why Bitcoin Could Frustrate Bulls And Bears In 2022 The higher percentage of futures contracts looks to be short holders this time as the indicator has been moving opposite to the price. BTC Estimated Leverage Ratio Continues To Reach New Highs Another metric, the “Estimated leverage ratio,” measures the average amount of leverage that each futures holder is making use of. This indicator has been making new highs recently, suggesting that short holders are taking a lot of leverage risk right now. The below chart shows this trend. Leverage in the market moves up | Source: CryptoQuant Such a large amount of leverage has historically lead to a flush sooner or later. And since this time the derivatives market is dominated by short holders, a short squeeze event could take place. At the time of writing, Bitcoin’s price floats around $41.6k, down 12% in the past week. Below is a chart that shows the trend in the price of BTC over the last five days. BTC’s price has moved sideways in the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":480715,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84667,16084,1119,1144],"class_list":["post-480712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-open-interest","tag-bitcoin-short-squeeze","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Open Interest Continues To Rise, Short Squeeze Incoming?<\/title>\n<meta name=\"description\" content=\"On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?","url":"http:\/\/uniquehot.com\/news\/bitcoin-open-interest-rise-short-squeeze-incoming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-open-interest-rise-short-squeeze-incoming\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/quantitatives-io-Y2P9q_IQlSU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/quantitatives-io-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin open interest","bitcoin short squeeze","btc","btcusd"],"dateCreated":"2022-01-10T19:00:42Z","datePublished":"2022-01-10T19:00:42Z","dateModified":"2024-06-11T07:45:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-open-interest-rise-short-squeeze-incoming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-open-interest-rise-short-squeeze-incoming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/quantitatives-io-Y2P9q_IQlSU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/quantitatives-io-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin open interest\",\"bitcoin short squeeze\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-01-10T19:00:42Z\",\"datePublished\":\"2022-01-10T19:00:42Z\",\"dateModified\":\"2024-06-11T07:45:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/quantitatives-io-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/480712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=480712"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/480712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/480715"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=480712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=480712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=480712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}