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Burniske: ‘I Have A Zcash Stash I’ll Never Sell, Just Like Bitcoin’
Placeholder co-founder Chris Burniske said in a Nov. 20 interview with Real Vision’s Raoul Pal that he holds a core Zcash position he “will never sell,” explicitly likening it to his long-term Bitcoin stash, even as he cautioned that ZEC’s current rally is not yet a proven structural breakout.
Pal opened by questioning whether Zcash’s surge is “just a rotational circle jerk within crypto again or is this something meaningful?” Burniske responded by foregrounding his conflict of interest: “I’ve been deeply involved within the Zcash community, so I have some bias here.” He cited personal ties and formal work with the ecosystem — “I’m friends with Zoko [Wilcox] […] I sat on […] a grants board” — and recalled that in 2016 Zcash was “the most anticipated coin” and initially traded as “a better Bitcoin,” a narrative he said “is coming back now.”
Burniske HODL’s ZCash And BitcoinOn market structure, Burniske stressed that ZEC is not moving alone. “ZEC is ripping, but so is Dash and so is Monero […] a lot of these OG privacy coins.” While noting Zcash “has done the best,” he relayed industry chatter for why privacy assets often run late in cycles: “apparently […] some Bitcoin whales will use some of these coins to […] anonymize their profits, end of cycle, um juice a bit more return.” He emphasized this was not a firm claim: “I don’t have the hard data on this […] there’s kind of that explanation.”
For Burniske, the real signal won’t come from the current leg higher but from how ZEC behaves when liquidity compresses. “We are not going to know until or if we get a bear market and we see where these assets bottom.” His test is relative resilience versus peers: if “Dash and Monero […] go back to the bottom of their ranges but ZEC holds materially higher […] that is very strong signal to me.”
Despite that uncertainty, Burniske described a non-negotiable core holding. “I have an amount of Zcash […] that I will never sell. And I kind of treat it like an amount of Bitcoin that I will never sell.” He tied the reasoning to Bitcoin’s historical payoff curve: “The only way people did phenomenally well from Bitcoin […] is basically just being like never sell, right? The hodl mentality.” In his framing, that “portion of ZEC” is held outside cyclical trading logic.
At the same time, he separated that conviction from short-term price chasing. “Even if it keeps going parabolic, you know, I don’t trust that parabolic move. I wouldn’t chase that parabolic move.” He said he has avoided hyping the rally publicly because ZEC’s market narrative is still “unproven,” and he doesn’t want to be responsible for others buying into euphoria and later blaming him.
Burniske pointed to ZEC’s long-term chart improvement as a positive development, though not a verdict. “I love that it’s cleared its 2021 highs and it had a monthly close higher than anything it had in 2021,” calling that “a point in the right direction.”
But he also noted the asset is “basically back at its 2017 highs,” underscoring how much of Zcash’s history has been spent in violent ranges. “It’s been this wildly volatile ranging asset,” he said, describing ZEC as a “problem child” in a market where “most crypto assets are value destructive” and only a small minority are “value creative.” For now, ZEC is “kind of a Schrödinger asset.”
Fundamentally, Burniske anchored his long-term thesis in Zcash’s cryptographic pedigree. “Zoko and his team are as hardcore cypherpunks as you could come by,” he said, adding that their “contributions to zero knowledge technology are above anyone else in the industry.” Those attributes, in his view, make ZEC a credible candidate for a rising privacy premium over time, but only if markets eventually validate that premise through sustained higher lows.
In short, Burniske’s stance is two-layered: an untouchable core aligned with Bitcoin-style hoarding — “I will never sell” — and a refusal to treat the present parabolic move as confirmation. The decisive evidence, he argued, will be whether ZEC can keep its footing when the cycle turns and the privacy complex retests its real support.
Notably, Burniske highlighted ZEC relative strength in a X post on Nov. 17: “In the dying breaths of this cycle it doesn’t so much matter what ZEC goes to in USD terms from here; enough good work has already been done there. It does matter, however, at the next bottom where ZECBTC & ZECUSD consolidates. Over the last couple months, the work it’s done in ZECBTC terms is most notable to me.”
He added that Zcash’s performance is especially notable in BTC terms. “Put another way, this late cycle price action from ZEC is not all that unique in USD terms, but it is unique in BTC terms. At the same time, you have to always respect that, for now, BTC sets the entire mood of the cryptoasset market on a medium-to-long term time frame,” he concluded.
At press time, ZEC traded at $674.82.
Киты продают и политики не помогают: чем обернется обвал крипторынка
Биткоин не отличается по волатильности от традиционных активов — Ричард Тэнг
Группа лоббистов потребовала от Трампа срочно прояснить регулирование криптовалют
Саудовская Аравия запустила госплатформу токенизации жилья и земли
Создателей крипто-хедж-фонда обвинили в присвоении $28 млн
Asia Buys Bitcoin Dip While US Sells: Analysts Explain Why as PEPENODE is a Smart Buy
Quick Facts:
- The US market caused Bitcoin to drop over 20% in November 2024, while Asian traders kept buying the dip, highlighting a deep regional sentiment divide.
- Large long-term holders like MicroStrategy and resilient on-chain data support the view that recent price action is a bull-market correction, not a new crypto winter.
- As liquidity rotates from $BTC into higher beta assets after corrections, mine-to-earn and gamified memecoins may capture outsized upside – especially in Asian markets – relative to more established altcoins.
In late 2024, you watched something unusual play out on the Bitcoin chart.
US trading hours drove a slide of more than 20% in November, triggering the classic question: Is the crypto winter back?
Yet, Asian sessions continued to step in and buy the dip in bitcoin, creating a sharp regional split in sentiment. On-chain analyst Ki Young Ju pointed to one key structural reason the market did not unravel more deeply:
“In classic cycle theory, the market should revisit the realized price around $56K to form a cyclical bottom, but because players like MSTR are unlikely to sell and those coins are effectively off the market, I doubt we will see $56K.”
MicroStrategy now holds around 649,870 $BTC, a strategic treasury position that effectively removes a huge amount of supply from circulation and dampens the kind of capitulation past cycle theory might predict.
Fidelity Digital Assets executive Chris Kuiper framed the move as a textbook 20% to 30% correction within a broader bull structure, not the start of a new bear market.
There was no major negative news catalyst, on-chain activity remained resilient, and Asian desks continued to average in, all of which suggested a confidence gap rather than a thesis breakdown.
If you believe this is a temporary dislocation rather than a macro top, the question shifts from “will bitcoin dip again?” to “what high-upside narratives could outperform on the next leg up?”
That is where PEPENODE, a “mine‑to‑earn” memecoin experiment, enters the conversation as a speculative bet on engagement-driven token economies.
You can also delve deeper into our PEPENODE price prediction, which outlines how prices could range from $0.0014 to $0.0023 in 2025, expand to $0.0021–$0.0072 in 2026, and potentially reach $0.0123–$0.0244 by 2030, representing upside scenarios as high as 2,282%.
Asia’s Dip-Buying And The Hunt For High-Beta PlaysThe divergence between US sellers and Asian buyers matters because it tells you who is willing to fund the next wave of crypto risk.
When Asia accumulates spot $BTC into a 20%+ drawdown while the US derisks, liquidity tends to rotate into higher beta altcoins once downside pressure eases.In past cycles, that rotation flowed into narrative leaders like Dogecoin, Shiba Inu, and, more recently, Pepe, with their combined market caps frequently adding billions of dollars within weeks after major Bitcoin reversals.
These memecoins offer no hard cash flow, but they do offer asymmetric upside when liquidity, leverage, and social media attention align.
This time, the memecoin sector is colliding with “play‑to‑earn” mechanics and engaging mining models. Projects such as Notcoin on Telegram, mining-themed clickers on Solana, and speculative node ecosystems on BNB Chain are all trying to turn casual interaction into token distribution.
PEPENODE positions itself as one of these experiments, focused specifically on a virtual mining experience rather than pure meme rotation.
Visit the PEPENODE website for a closer look at the project.
Why PEPENODE’s Mine-To-Earn Memecoin is Gaining TractionOne reason interest is shifting to mine‑to‑earn concepts is that classical mining has become almost unreachable for the average retail user.
- Bitcoin ASICs cost thousands of dollars,
- Home electricity prices have climbed,
- And institutional hash power now dominates block production.
The process is capital-intensive, technical, and, frankly, boring for most people.
Gamified mining flips that model. Instead of buying hardware, you buy virtual miners or nodes and interact through a web or mobile interface.
If the design is good, you get the psychological hit of “running a farm” with visible hash stats, boosts, and upgrades, while the protocol uses smart contracts to manage emissions and rewards.
The token becomes both a meme and an in‑game resource.
$PEPENODE leans into this by branding itself as the world’s first mine‑to‑earn memecoin, making it one of the best cryptos to buy now.
Rather than promising industrial-grade yields, it focuses on a virtual mining system, a gamified dashboard, and variable-strength nodes that reward early adopters.
Compared with static meme tokens that rely solely on community hype, it attempts to hook users with ongoing gameplay and progression.
For detailed presale instructions, read our ‘How to Buy $PEPENODE guide’. Is PEPENODE the Next Crypto to Explode?When you look under the hood, $PEPENODE runs as an ERC‑20 token on Ethereum’s proof‑of‑stake layer.
Smart contracts control staking, rewards, and ultimately governance, but the front‑end experience is framed as a mining game:
- You buy and customize Miner Nodes,
- Upgrade facilities to boost performance,
- And earn meme coin rewards, such as PEPE or Fartcoin, in the process.
The upcoming model tries to fix three issues at once:
- First, it replaces passive, hardware-heavy mining with low-friction virtual mining that uses no electricity beyond regular internet access.
- Second, it directly addresses weak early incentives by giving initial PEPENODE supporters more powerful nodes and higher reward multipliers.
- Third, it strips away technical complexity so anyone with a wallet can participate.
The project’s timing is notable.
While traders argue over the next bitcoin dip level, the $PEPENODE presale has raised $2.17M, with tokens priced at $0.0011592. The staking rewards are also too good to ignore at 593%.
If Asian desks remain net buyers of $BTC and the pullback behaves like a standard 20% to 30% correction, high-beta plays could outperform once volatility compresses.
In that scenario, $PEPENODE offers a pure sentiment and participation bet on memecoins evolving from simple jokes into interactive mining-themed economies.
Join the $PEPENODE presale for $0.0011592 before the next price surge.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment or trading advice; always do your own research.
Authored by Bogdan Patru for Bitconist – https://bitcoinist.com/asia-buys-bitcoin-dip-pepenode-mine-to-earn-memecoin
Vitalik Buterin Lancia l’Allarme: Tra l’Ombra di BlackRock e la Minaccia dei Computer Quantistici
Durante la conferenza Devconnect di Buenos Aires, il co-fondatore di Ethereum, Vitalik Buterin, non ha usato mezzi termini. Al centro del suo intervento c’è una preoccupazione crescente: il dominio sempre più soffocante dei giganti istituzionali come BlackRock sul mondo delle criptovalute, con un focus particolare su Bitcoin (BTC) ed Ethereum (ETH).
Secondo Buterin, questa influenza smisurata non è solo una questione di mercato, ma una potenziale minaccia esistenziale per la natura decentralizzata di queste reti.
Il Rischio Centralizzazione: Ethereum è “catturabile”?L’intervento di Buterin nasce da una riflessione profonda sull’impatto degli investitori istituzionali, specialmente dopo il lancio degli ETF su Bitcoin ed Ethereum da parte di BlackRock all’inizio del 2024.
La domanda che Vitalik pone alla community è cruciale: come possiamo evitare che le crypto vengano “catturate” da entità colossali come BlackRock?
Il timore è che, se questi player dovessero continuare ad accumulare quote massicce di Ethereum, la voce di chi difende la decentralizzazione finirebbe per essere marginalizzata. Il rischio concreto è uno stravolgimento dei fondamentali della rete:
- Ottimizzazione per le Istituzioni: La rete potrebbe evolversi per soddisfare le esigenze di Wall Street.
- Esclusione dell’utente comune: Diventerebbe sempre più difficile per i singoli utenti gestire un nodo, trasformando la blockchain in un club per pochi eletti.
Buterin ha avvertito: “Questo allontana facilmente le persone”, ribadendo la necessità di concentrarsi su quelle caratteristiche che rendono le crypto uniche: protocolli globali, permissionless (senza permessi) e resistenti alla censura.
Non a caso, proprio questa settimana BlackRock ha fatto notizia registrando in Delaware un fondo Ethereum con staking, segnalando l’intenzione di espandersi ulteriormente nel mercato degli ETF, dove il loro fondo principale gestisce già circa 10 miliardi di dollari in ETH.
La Minaccia Quantistica: Il countdown verso il 2030Ma le preoccupazioni di Buterin non si fermano alla finanza tradizionale. All’orizzonte si profila un’altra ombra: quella del calcolo quantistico.
Recenti scoperte di Google e Microsoft (che ha svelato un nuovo chip per l’abilitazione quantistica) hanno accelerato la corsa tecnologica, accendendo i riflettori sulla sicurezza crittografica di Bitcoin ed Ethereum.
Scott Aaronson, ricercatore nel campo quantistico, ha suonato un campanello d’allarme: la potenza di questi computer potrebbe presto essere in grado di eseguire l’Algoritmo di Shor, teoricamente capace di violare gli standard di crittografia che proteggono le blockchain attuali. Secondo Aaronson, il ritmo dell’innovazione hardware è tale che potremmo vedere un computer quantistico fault-tolerant (tollerante ai guasti) persino prima delle prossime elezioni presidenziali USA.
“Non serve il panico, serve serietà”Alex Pruden, CEO di Project 11 (società che si occupa di rischi quantistici), ha sintetizzato così la situazione: “Non dobbiamo farci prendere dal panico, ma dobbiamo iniziare a fare sul serio”. Il messaggio è chiaro: computer quantistici sufficientemente avanzati potrebbero rompere le criptovalute al loro livello più fondamentale.
La discussione si sta spostando sulla necessità di misure proattive. Gli sviluppatori di Bitcoin sono stati esortati a prepararsi per un futuro post-quantistico, che secondo alcuni esperti potrebbe materializzarsi già nel 2030.
La dichiarazione più forte arriva da Théau Peronnin, CEO di Alice & Bob, durante il Web Summit di Lisbona: gli sviluppatori devono migrare verso blockchain più robuste entro la fine del decennio per proteggersi.
Il suo avvertimento finale è lapidario:
“Avete ancora qualche buon anno davanti a voi, ma io non terrei i miei Bitcoin a lungo termine senza un aggiornamento“.
Total Crypto Open Interest Crashes To June Levels, Will Bitcoin Repeat The Same Trend?
Prices across the crypto market have crashed with the recent Bitcoin price decline below $100,000, and other major metrics have followed in accordance. One metric of note that has suffered a notable decline is the crypto market open interest. The total open interest fell sharply back in September, and the decline has been the trend since then. As a result, the crypto market open interest has now fallen to levels not seen in five months.
Crypto Open Interest Dumps Below $140 BillionData from the Coinglass website shows that crypto market open interest has declined significantly after hitting an all-time high in early October. The $233 billion peak was recorded on October 7, coinciding with the Bitcoin price also hitting a peak above $126,000. However, the momentum has not held up since then, and as the Bitcoin price has tumbled, the crypto open interest has suffered.
Earlier in the week, the open interest fell below $140 billion for the first time in five months, marking an over 40% crash in the space of one month. The market saw the first major decline following the infamous crash in the crypto market in a matter of hours. By October 12, only 5 days after the all-time high was recorded, the open interest had crashed by more than 25%, reaching $150 billion.
The current decline is a testament to the reduced participation from investors across the market, as crypto traders have taken a more conservative stance through the month of November. Not only has the crypto open interest been gravely impacted, but the daily trading volume has suffered as well.
Just like the open interest, the crypto daily trading volume has recorded a double-digit crash, going from almost $400 billion at the start of October to less than $260 billion at the time of this report. This constitutes an around 35% crash, showing notable similarities to the open interest.
What Happened To Bitcoin The Last Time?While the rapid decline in the crypto open interest could be a cause for alarm, it is interesting to note what happened to Bitcoin the last time this metric was this low. Looking back to June 2025, when the crypto open interest was last below $140 billion, it essentially was the bottom before the price rallied again.
A bounce following the bottom in June saw the Bitcoin price rise from around $100,000 to $126,000 over the next few months, which translates to a 26% increase. If this trend holds and the bottom is marked with the crypto market open interest below $140 billion, then the Bitcoin price could be gearing up for another rally.
Глава Tether назвал сроки исчезновения спроса на USDT
Акции Strategy могут исключить из котировок фондовых индексов
Best Presales Live News Today: Latest Updates on Early Crypto Projects with 10x Potential (November 21)
Check out our Live Best Presales Updates for November 21, 2025!
Of all the crypto opportunities out there, presales are often the most promising and potentially the most profitable. These early-stage projects raise funds to launch community-driven meme coins, utility-heavy projects, and even degen shitcoins.
What defines crypto presales is the opportunity to join stage zero at the lowest possible price point. It can only go up from there, which it often does.
Pepe Unchained soared 550% post-presale, to name one presale. The potential is there, and if you’re looking for the latest crypto presale updates to get in early, you’ve come to the to right place.
Quick Picks for the Best Presales Today
Bitcoin Hyper ($HYPER) - Real-Time Layer-2 Solution for Scaling Bitcoin Launch: May, 2025 VISIT NOW Maxi Doge ($MAXI) - High-Impact Meme Coin Built On Strength, Staking & Conviction Launch: July, 2025 VISIT NOW PepeNode ($PEPENODE) - A New, Gamified Way to Mine to Earn Meme Coin Rewards Launch: February, 2025 VISIT NOW Snorter Token ($SNORT) - Lowest-Fee Telegram Trading Bot for Solana and Ethereum Launch: May, 2025 VISIT NOW Best Wallet Token ($BEST) - Get Easy, Early Access to New Curated Presale Projects Launch: November, 2024 VISIT NOW
We update this page regularly throughout the day with the latest insights on presales. Keep refreshing to stay ahead of the pack!
Disclaimer: No crypto investment comes without risk. Our content is for informational purposes, not financial advice. We may earn affiliate commissions at no extra cost to you.
Asia–US Bitcoin Split, Bitcoin Hyper ($HYPER) and Positioning for the Best PresalesNovember 21, 2025 • 10:00 UTC
US trading sessions have driven more than 20% of November’s $BTC drawdown, while Asian hours keep quietly buying the dip and cushioning price, creating a clear regional divergence in risk appetite.
At the same time, large institutional holders like Strategy, sitting on hundreds of thousands of coins, effectively cap how deep corrections can go and turn sharp sell-offs into extended accumulation zones for long-term players.
That mix of structural demand and short-term fear shifts the real asymmetry away from spot Bitcoin and toward Bitcoin-focused infrastructure that can scale usage.
Bitcoin Hyper ($HYPER) is building exactly in that lane. It’s a Layer-2 using Solana Virtual Machine tech to bridge $BTC into faster, smart-contract-enabled rails with its canonical bridge and multi-chain design.
With $28.22M already raised at a presale price of $0.013305, you get exposure to the ecosystem that benefits when those Asian buy-the-dip flows eventually demand more throughput, DeFi, and NFT rails around Bitcoin itself.
Mid-Cycle Bitcoin Sellers, PEPENODE ($PEPENODE) and Rotating Into the Best PresalesNovember 21, 2025 • 10:00 UTC
VanEck’s latest on-chain report shows mid-cycle $BTC holders, whose coins last moved within five years, driving the current sell-off. Decade-plus whales keep their stacks untouched and futures positioning looks ‘washed out’ after open interest dropped roughly 20% in $BTC terms since October.
That kind of cohort rotation usually marks a reset phase rather than a full structural breakdown. And this opens the door for you to redeploy risk from tired mid-cycle bags into new narratives with cleaner supply and community structures.
PEPENODE ($PEPENODE) leans into that shift with a ‘mine-to-earn’ memecoin model that swaps passive staking for gamified virtual mining.
You acquire Miner Nodes and Facilities, simulate hashrate and energy inside a dashboard, and earn tiered node rewards tracked by smart contracts, all without touching power-hungry hardware.
With $2.17M already raised and the presale price at $0.0011592, you step into an early-stage ecosystem designed to reward long-term participants rather than jittery mid-cycle sellers exiting into weakness.
Join the PEPENODE presale now with our guide.
Authored by Ben Wallis, Bitcoinist — https://bitcoinist.com/best-presales-live-news-today-november-21-2025
Названы результаты первого публичного аудита программного обеспечения Биткоина
Bitcoin Gets A Covert Signal As Bessent Walks Into PubKey DC
PubKey’s Washington, DC opening yesterday would normally be filed under Bitcoin culture: a BTC-centric bar and meetup space planting a flag a few blocks from the institutions that write and enforce US financial policy. Instead, the launch became a market-relevant moment after Galaxy Digital’s head of firmwide research Alex Thorn posted photos from the event that show US Treasury Secretary Scott Bessent in attendance.
Is This The Hidden Bitcoin Bull Signal?Thorn shared a few photos and only wrote, “PUBKEY DC IS ON THE MAP.” While Bessent has not acknowledged the visit on his own X account, the lack of an official readout keeps the episode informal. But in Washington, informality from senior officials is often where the earliest signals live.
Bitcoin-aligned commentators read the presence as overtly constructive. Analyst MacroScope (@MacroScope17) observed, “The Treasury Secretary was at tonight’s opening of PubKey DC. In this type of market, signals like this don’t matter much. Eventually traders look back and realize it mattered.”
Strive chief investment officer Ben Werkman framed it as a hindsight moment in real time, saying, “Having the Secretary of the Treasury at the Pubkey DC launch seems like a moment I could easily look back on and say ‘wow, it was all so obvious’.” Thorn replied, “agreed this is unabashedly bullish,” while Nakamoto’s vice president of investor relations Steven Lubka wrote, “The Treasury Secretary of the United States is at Pubkey. This is the sign you have been waiting for.”
None of those posts constitute policy, but they reflect a shared interpretation: a sitting Treasury Secretary showing up at a Bitcoin venue in DC is not a neutral optic in a cycle where state posture toward BTC is being repriced globally.
PubKey already carries political symbolism. On September 18, 2024, Donald Trump visited PubKey in New York City, bought cheeseburgers, and paid in BTC, becoming the first US president to transact on-chain in public.
Still No Update On The US Strategic Bitcoin ReserveYet the bullish optic lands amid a notable policy vacuum. President Trump’s March 6, 2025 executive order created a US Strategic Bitcoin Reserve, directing agencies to report their digital-asset holdings and transfer forfeited BTC into a reserve that “shall not be sold.”
The same order instructed Treasury and Commerce to develop “budget-neutral” strategies to acquire additional Bitcoin without new taxpayer cost. Those deadlines have passed without a public release of an audit of how much BTC the United States still controls from seizures, what portion is encumbered by restitution or legal claims, or how Treasury intends to operationalize any budget-neutral accumulation path.
Two weeks before the PubKey DC opening, Bessent surprised the community with an unusually direct Bitcoin endorsement on X: “17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down. @SenateDems could learn something from that.” The message, posted during a federal shutdown fight, was both partisan jab and institutional compliment, positioning BTC’s uptime as a governance benchmark. The PubKey appearance now extends that rhetorical posture into a physical one.
Put simply, Bessent at PubKey DC is bullish as a social signal, not as a confirmed policy pivot. It suggests that Bitcoin’s legitimacy inside the US fiscal establishment is deepening to the point where the Treasury Secretary can engage with BTC-native spaces without treating them as political risk. But until Treasury releases a full reserve accounting and clarifies whether any lawful budget-neutral acquisition route exists, the Strategic Bitcoin Reserve remains more intent than instrument. Markets can price symbolism quickly; they will ultimately need numbers.
At press time, BTC traded at $85,670
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Ранний биткоин-кит мог распродать свои монеты спустя 14 лет — Arkham Intelligence
Питер Брандт составил прогноз курса биткоина на ближайшие четыре года
Bitcoin Risk Appetite Fading, Finds Glassnode Report
A new Glassnode report has revealed that the Bitcoin Open Interest continues to decline, a sign demand from risk-taking futures cohorts is waning.
Bitcoin Futures Open Interest Has Shown No Signs Of Growth RecentlyIn its latest weekly report, on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin Open Interest. This indicator measures the total amount of BTC-related perpetual futures positions that are currently active on the various centralized derivatives exchanges.
When the value of this metric rises, it means investors are opening up fresh positions on the market. Generally, the amount of leverage present in the sector goes up when new positions appear, so this kind of trend can lead to more volatility for the asset.
On the other hand, the indicator registering a drop suggests positions in the market are going down, either due to investors pulling back on risk, or exchanges enforcing forceful liquidations. Either way, the reduced leverage can result in the coin acting in a more stable manner.
Now, here is a chart that shows the trend in the Bitcoin Open Interest over the past year:
As displayed in the above graph, the Bitcoin Open Interest witnessed a huge plunge last month as the cryptocurrency’s price crash triggered a massive liquidation squeeze. Since then, the metric has continued to slide down as the BTC price has plummeted further.
The fact that the downtrend in the indicator has maintained implies that investors haven’t been opening new positions in place of the ones getting liquidated. “This absence of incremental leverage underscores a cautious stance among market participants and aligns with the broader theme of fading demand across risk-taking cohorts,” explained the report.
Bitcoin has faced another bearish blow in the past day, which has only unleashed a new wave of liquidations in the futures market. As the below table from CoinGlass shows, the cryptocurrency sector as a whole has observed $904 million in liquidations over the last 24 hours.
Prices across the market have dropped inside this window, so it makes sense that $690 million of these liquidations have come from the long contract holders alone.
In terms of the individual assets, Bitcoin and Ethereum have contributed the most toward the squeeze like usual, with $370 million and $235 million in contracts involved, respectively.
Solana has been the leader among the rest with $37 million in liquidations. Interestingly, while most of the market has dropped, SOL is among the few that still have a slight positive gain for the past day.
BTC PriceBitcoin has returned to the $86,900 level following its latest drop.
