Bitcoin loses 30k support, as futures open interest contracts unwind

quick take

  • Bitcoin lost $30,000 support this morning and is now at $29,500.
  • 5 days ago, crypto slate analyzed that open interest jumped by the fifth largest amount in a single day. This was a key factor pushing the price over his $30,000.
  • In the last 24 hours, cryptocurrencies have liquidated over $100 million, washing out late longs.
  • About 375,000 BTC are in open futures contracts, down 25,000 BTC from the weekend.
Liquidation: (Source: CoinGlass)
Futures Open Interest: (Source: Glassnode)
Futures Open Interest: (Source: Glassnode)

Post Bitcoin first appeared on CryptoSlate as it lost 30,000 support and the futures open interest contract was unwound.

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