A minor 2.2% price drop in Bitcoin over the past 24 hours has triggered a significant 7.5% decline in total open interest on exchanges. In contrast, Ethereum and Solana’s open interest has remained relatively stable. This disparity suggests a few key takeaways: 📉 While Bitcoin has seen a mild -2.2% price drop in the past 24 hours, it was enough to cause a much larger -7.5% drop in total open interest on exchanges. For comparison, total open interest toward Ethereum and Solana have barely declined. A few takeaways: 🎯 Shifting Focus to… pic.twitter.com/vBltUQxcnX — Santiment (@santimentfeed) August 27, 2024 Traders
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