Claim BonusBitcoin & Ethereum Open Interest (OI) And Funding Rates Signals Bullish 2024 Start
After $11 billion in annual options delivery on Friday, Bitcoin and Ethereum are expected to close the year below $44,000 and $2400 levels. As BTC and ETH continued to rally this year due to rising open interests (OI), a record rise in funding rates stalled the rally at the end of the year.
BTC price rallied 170% and ETH price leaped 105% this year. Experts anticipate further rally after the funding rates decline gradually.
Bitcoin And Ethereum OI and Funding Rates
Bitcoin and Ethereum futures open interest (OI) fell after Friday’s expiry and recent crypto market selloffs this week. However, traders remain positive on further upsides.
As per current data, the total Bitcoin futures OI on all exchanges is over $18 billion. BTC OI on CME and Binance are $4.81 billion and $4.31 billion, rising again after the recent wipe out. Deribit, Coinbase, Bybit, OKX, and others have similar figures.
The total Ethereum futures OI is $3.36 million. ETH OI on the top three futures crypto exchanges Binance, Bybit, and OKX are rising after a massive drop.
Crypto influencer Kamikaz shared that OI is totally wiped on BTC and ETH after expiry but funding remains higher as people are scared to short due to spot Bitcoin ETF approval sentiment. He says it is super bullish and wants to long.
Popular analyst CredibleCrypto agreed with Kamikaz that the market is bullish. He explained that people are mistaking high funding rates for an excess of over-leveraged participants. In reality, OI is completely wiped at levels not witnessed in the last few years. He said, “funding is only relatively high because the few that are levered are predominantly directional longs.”
Funding rates are also actually falling from the record high. The BTC OI-weighted funding rate chart indicates probability of upside movement in the next few days.
Also Read:
- Terra Classic Development Proposal By Genuine Labs Officially Passed
- Ark Invest Sells Coinbase (COIN) Shares Ahead Spot Bitcoin ETF, Cathie Wood Bearish?
- Grayscale Bitcoin ETF: CEO Michael Sonnenshein Weighs On Leading Spot Bitcoin ETF Race
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitget’s Tokenized Stock Platform Hits $18B as Traditional Assets Move On-Chain
- XRP News: RLUSD Gets Institutional Adoption Boost as Ripple Invests $150M in LMAX Group
- Gemini Card Review 2026 – Best Suited To Earn Rewards In Crypto
- Breaking: CME To Launch Cardano, Chainlink, and XLM Futures Amid Plans For 24/7 Crypto Trading
- Breaking: U.S. Jobless Claims Signal Labor Market Rebound as Fed Set to Hold Rates at January FOMC
- Here’s Why Ethereum Price Will Hit $4k By End of Jan 2026
- Solana Price Outlook Ahead of the Alpenglow Upgrade
- Bitcoin and XRP Price Prediction As US Senate Cancels Crypto Market Structure Bill Markup
- Dogecoin Price Poised to Hit $0.18 After Bullish Inverse Head and Shoulders Breakout
- Bitcoin Price Forecast: How the Supreme Court Tariff Decision Could Affect BTC Price
- Ethereum Price Prediction as Network Activity Hits ATH Ahead of CLARITY Markup
