{"id":48376,"date":"2025-09-19T02:16:31","date_gmt":"2025-09-19T02:16:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=48376"},"modified":"2025-09-19T02:16:31","modified_gmt":"2025-09-19T02:16:31","slug":"crypto-oi-shows-mixed-trend-bitcoin-solana-down-while-ethereum-xrp-up","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=48376","title":{"rendered":"Crypto OI Shows Mixed Trend: Bitcoin, Solana Down, While Ethereum, XRP Up"},"content":{"rendered":"
\n

A divergence has formed in the crypto futures market during the past week as Bitcoin and Solana have seen deleveraging against the others.<\/p>\n

Bitcoin, Solana Have Seen A Drop In Perpetual Futures Open Interest<\/h2>\n

In a new post<\/a> on X, on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for Bitcoin and other top coins in the cryptocurrency sector.<\/p>\n

The \u201cOpen Interest<\/a>\u201d here refers to an indicator that measures the total amount of perpetual futures positions related to a given asset that are currently open on all centralized derivatives exchanges.<\/p>\n

When the value of this metric goes up, it means the investors are opening up fresh positions on the perpetual futures market. Generally, the total leverage<\/a> present in the sector rises when this trend develops, so the asset\u2019s price can become more unstable following it.<\/p>\n

On the other hand, the indicator registering a decline implies holders are either closing up positions of their own volition or getting forcibly liquidated by their platform. Such a trend usually leads to a reduction in leverage, which can make the price act in a more stable manner.<\/p>\n

Now, first, here\u2019s a chart that shows the trend in the Open Interest for Bitcoin over the past week:<\/p>\n

\"Bitcoin<\/p>\n

As displayed in the above graph, the Bitcoin Open Interest has followed an overall downward trajectory in this period, a sign that a net amount of positions have disappeared.<\/p>\n

Interestingly, this trend has developed alongside a recovery surge in the BTC price to the $117,000 level. Generally, rallies attract speculative activity so the indicator tends to rise with them, but it would appear that it hasn\u2019t been the case this time around.<\/p>\n

Solana<\/a>, the cryptocurrency sixth largest by market cap, has seen a similar trajectory in its Open interest during the past week, as the below chart shows.<\/p>\n

\"Solana<\/p>\n

Thus, it seems both BTC and SOL have seen a cooldown in speculative activity even though their prices have witnessed a net increase over the past week. The same trend, however, hasn\u2019t been seen with some of the other top digital assets.<\/p>\n

The cryptocurrency number two only to Bitcoin, Ethereum, has witnessed a surge in the Open Interest, implying an increase in demand among the investors for leveraged positioning.<\/p>\n

\"Ethereum<\/p>\n

The analytics firm has pointed out that XRP and BNB have also observed a similar trend. Given this divergence that has formed between the assets, it\u2019s possible that ETH and company may be in for higher volatility than BTC and SOL.<\/p>\n

BTC Price<\/h2>\n

Bitcoin recovered to $117,900 on Wednesday, but it seems the coin has seen a minor pullback since then as it\u2019s now back at $117,000.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A divergence has formed in the crypto futures market during the past week as Bitcoin and Solana have seen deleveraging against the others. Bitcoin, Solana Have Seen A Drop In Perpetual Futures Open Interest In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-48376","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48376"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48376\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}