#Bitcoin Futures Speculation Cools Down#
Hot Topic Overview
Overview
Bitcoin futures market speculative fervor is cooling down. According to Glassnode data, Bitcoin futures open interest (OI) shows declining speculative momentum. The medium-term trendline (30-day SMA) has peaked and is now slightly declining, while the short-term trendline (7-day SMA) has broken below it. This indicates that traders are closing positions due to market uncertainty, leading to a decline in speculative momentum.
Ace Hot Topic Analysis
Analysis
Bitcoin futures market speculation is cooling down, primarily reflected in the open interest (OI) data. Glassnode's analysis shows that the mid-term trend line (30-day SMA) of Bitcoin futures OI has peaked and is now slightly declining, while the short-term trend line (7-day SMA) has broken below the mid-term trend line. This indicates that traders are closing positions due to market uncertainty, leading to a decline in speculative momentum. Market uncertainty is likely the main reason for traders' cautious stance, which could be related to recent changes in the macroeconomic environment, regulatory policy adjustments, and increased market volatility.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin futures open interest (OI) shows speculative momentum is declining
The medium-term trendline (30-day SMA) has peaked and is now declining slightly
The short-term trendline (7-day SMA) has broken below it
Traders are closing positions due to market uncertainty