Glassnode: Data on unliquidated Bitcoin futures contracts shows that speculative momentum is declining
Glassnode posted on the X platform that BTC futures open interest (OI) shows a decline in speculative momentum. The medium-term trend line (30-day SMA) has reached its peak and is now slightly declining, while the short-term trend line (7-day SMA) has fallen below it. This suggests that traders have closed their positions to deal with uncertain market conditions.
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.
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