Summary
- It was reported that Bitcoin's open interest size is approaching an all-time high of $68 billion, raising concerns about market overheating.
- The Cryptoasset Sentiment Index, which includes market sentiment, has reached its highest level, suggesting increased price volatility.
- Andre Dragos warned of the possibility of a short-term adjustment in Bitcoin due to these overheating signals.
While Bitcoin (BTC) is showing strength, some market overheating signals have emerged, suggesting that an adjustment may come soon.
On the 13th (local time), the cryptocurrency specialist media Cointelegraph reported that "the open interest size of BTC has approached an all-time high of $68 billion," indicating "excessive positioning in the market, which can lead to increased price volatility in such situations."
Andre Dragos, head of Bitwise Research, warned that "the Cryptoasset Sentiment Index, which encompasses market sentiment, capital flows, and on-chain data, has reached its highest level since last November," signaling "a sign of market overheating. A short-term BTC adjustment may occur."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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