Sign Up on MEXC
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
- Coinbase Data Signals XRP Supply Shock Ahead- Analyst Claims $5 XRP Soon
- PUMP vs HYPE: PumpFun Daily Revenue Surges Past Hyperliquid, Analyst Projects New ATH
- Shiba Inu Update: Shytoshi Kusama Breaks Silence, Confirms “War Room” to Counter Shibarium Exploit
- Citigroup Predicts ETH Price Could Crash to $2,200 by Year-End
- Top Investor Forecasts Major Rally for Solana as AUM Climbs to Record $4.1B
- Bitcoin Price Prediction as Fed Decision Nears — Dump Before the Next Rally?
- Ethereum Price Prediction As Standard Chartered Says Treasury Buying Will Boost ETH Over Rivals
- Solana Price Prediction: Analyst eyes $1,250 as Galaxy Digital and Forward Industries Intensify Accumulation
- Trump Coin Price at Risk of a 16% Dive as Open Interest, Whale Selling Intensify
- Hype Price Prediction Gains Momentum — Is USHD Launch the Fuel for $72 Target?
