🔥 Poll: Can BTC Break Its ATH This Week?
ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
🗳️ Share your take—let’s see where the market goes!
Analysis: The open interest of XRP and DOGE contracts is rising, but the price pump is weakening, which may indicate that the market's preference for fluctuation and downside risk is increasing.
BlockBeats, May 14 -- Speculative positions in the XRP and Dogecoin (DOGE) futures markets continue to pile up despite the weakness of spot prices, suggesting that the market's appetite for volatility and downside risk is heating up. The data shows that: · DOGE Futures: Open interest surged 63.9% ($989 million →1.62 billion) in a week, while spot prices rose 40% to $0.23 over the same period; XRP Futures: Open interest increased by 41.6% over the same period (an increase of more than $1 billion), and the spot rose relatively modestly ($2.14 to $2.6). On-chain analyst firm Glassnode said the divergence between the decay of price momentum and the surge in open interest suggests that speculative positions continue to pile up, and this situation is something to be wary of. Open Interest (OI) is a bellwether for speculative activity, and when it diverges from stagflation prices, it tends to signal that leverage is growing faster than confidence – a pattern that has caused flash crashes on several occasions in the past.