Glassnode: The volume of unliquidated Bitcoin futures contracts has slightly rebounded since April 3rd, but the overall downward trend remains unchanged
PANews reported on April 7th that Glassnode data shows the amount of Bitcoin futures open contracts reached $34.5 billion. Despite a brief rebound from the low of $33.8 billion on April 3rd, the overall downward trend has not changed. As traders reduce risk due to falling price momentum, futures positions continue to be closed out. Since March 25th, both cash-secured and cryptocurrency-secured open contract volumes have declined. Cash-secured open contract volume fell from $30.3 billion to $27.4 billion while cryptocurrency-secured open contract volume dropped from $7.5 billion to $6.9 billion but began rising again in the past 48 hours, suggesting more speculators are starting to take risks again.
Cryptocurrency-backed Bitcoin futures contracts currently account for 20.5% of total outstanding contracts, up from 18.9% on April 5th.
The rise in leverage ratio for cryptocurrency collateral could make markets more sensitive to price fluctuations and amplify volatility as positions become more sensitive.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Singapore stocks plunge 7.7 per cent in one day, biggest drop in 16 years
European Commission President: ready to negotiate with US on tariffs
NEC Director: time to moderate tariff language
Trending news
MoreCrypto prices
More








