Markets· ★★★· bearish·

Santiment: 11% Drop in Ethereum Open Interest Is Misleading

  • —Open interest stood at 6.23 million ETH on both Oct. 4 and Oct. 14
  • —It ranged between 5.97 million and 6.47 million ETH during the period
  • —ETH liquidations hit about $283 million in the 24 hours after US inflation data, versus $196 million for BTC
  • —Ether ETFs saw net outflows every trading day from Oct. 1 to Oct. 12, with about $130 million on Oct. 14
Why it matters: Dollar-denominated open interest can overstate deleveraging: ETH positions were not actually reduced over the period.
#ETH#BTC
Source: Koin Bülteni
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