Bitcoin

Rewards

Data shows that Bitcoin’s open interest has plummeted as BTC has crossed the $60,000 level, suggesting that large liquidations have occurred. Amidst this development, Pawfury (PAW) is emerging as a presale project that’s capturing the attention of savvy investors. With its promise of high returns and seemingly predictable patterns, Pawfury stands out in the volatile crypto landscape, offering a refreshing alternative to established tokens. 
Pawfury (PAW) – The New Emerging Star Pawfury (PAW) has emerged as a new star in the cryptocurrency market. Its innovative features, strong community support, and practical utility make it a compelling investment. With its presale dynamics Pawfury (PAW) offers substantial benefits to its holders. As adoption grows, this coin is poised for significant gains, highlighting its potential for long-term success. The robust backing from its community and continuous development efforts ensure that Pawfury (PAW) remains at the forefront of the crypto market, attracting investors seeking high returns in a rapidly evolving landscape. <a href="http://www.pawfury.com/?utm_source=ethnews&amp;utm_medium=article&amp;utm_campaign=direct&amp;utm_id=en_op_d"><img loading="lazy" decoding="async" class="alignnone size-medium wp-image-86559" src="https://www.ethnews.com/wp-content/uploads/2024/08/unnamed-2024-08-12T191449.645-300x70.png" alt="" width="300" height="70"></a> 
<a href="http://www.pawfury.com/?utm_source=ethnews&amp;utm_medium=article&amp;utm_campaign=direct&amp;utm_id=en_op_d">Presale is ive Now – Join Now for a Chance to Benefit with PAW</a> 
Investor Rewards in Pawfury’s Multi-Stage Approach Pawfury’s presale ensures fair token distribution and investor benefits through its multi-stage structure. Early participants enjoy lower token prices, thanks to the incremental pricing model. This strategy not only creates excitement but also draws in capital, boosting liquidity and market stability. To celebrate its success, investors can now enjoy a 10% extra bonus on their first purchase on Pawfury using the promo code “EXTRA10X” for a limited time. 
<a href="http://www.pawfury.com/?utm_source=ethnews&amp;utm_medium=article&amp;utm_campaign=direct&amp;utm_id=en_op_d">Presale is Live, Learn More About Major Benefits</a> 
<h3 id="b-bitcoin-open-interest-has-crashed-down-as-shorts-have-seen-squeeze-b">Bitcoin Open Interest Has Crashed Down As Shorts Have Seen Squeeze</h3> 
In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed the latest trend that has developed in the Bitcoin Open Interest. The “Open Interest” here refers to an indicator that keeps track of the total number of derivatives positions related to BTC currently open on all exchanges. 
When the value of this metric goes up, it means the investors are opening up new positions on the market right now. As the total leverage in the sector usually increases when new positions pop up, this trend can lead to more volatility in the asset’s price. 
<figure id="attachment_86583" aria-describedby="caption-attachment-86583" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-86583" src="https://www.ethnews.com/wp-content/uploads/2024/08/unnamed-2024-08-12T221520.063-300x171.png" alt="" width="575" height="328">
 <figcaption id="caption-attachment-86583" class="wp-caption-text">
 Source: X
 </figcaption>
</figure> 
The chart shows that the indicator had observed a sharp plunge a few days ago as the asset had gone through a crash. This crash caused a large amount of long liquidation, thus resulting in the decline of the metric. 
On the other hand, the indicator registering a decline implies either the holders are closing up positions of their own volition or getting liquidated by their platform. Generally, the price becomes more stable following such a trend due to the decreased leverage. 
<h3 id="b-bottom-line-b">Bottom Line</h3> 
As Bitcoin shows resilience by breaking the $60K barrier despite declining open interest, the crypto market continues to evolve. Projects like <a href="http://www.pawfury.com/?utm_source=ethnews&amp;utm_medium=article&amp;utm_campaign=direct&amp;utm_id=en_op_d">Pawfury</a> offer a glimpse of innovative potential within this dynamic space. While Bitcoin’s movements provide valuable insights into market sentiment, emerging presales like Pawfury present alternative investment strategies. 
The post <a href="https://www.ethnews.com/btc-breaks-60k-but-open-interest-declines-whats-next/">BTC Breaks $60K, but Open Interest Declines – What’s Next?</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

BTC Breaks $60K, but Open Interest Declines – What’s Next?

Table of Contents

ETHNews

Other articles published on Aug 12, 2024

Ripple Sends Critical Warning to XRP Holders Following Major Victory

Crypto Price Predictions: Dogecoin (DOGE), Solana (SOL) and Rollblock (RBLK), Which Altcoin Could...

Grayscale Expands Crypto Offerings with Bittensor and Sui

BRETT Price Rose 65% As Derivatives Market Show Bullish Signs

AI Altcoins Will Lead The Charge This Year! Cryptocurrencies Poised To Make 10X Easily

Will the SEC Appeal? Ripple Legal Chief Addresses Potential Moves After XRP Case Ruling

Join our free newsletter for daily crypto updates!