- Bitcoin achieved a new all-time high of $108,350, maintaining steady growth without signs of overheating.
- The funding rate dropped from 0.04% to 0.008%, signaling reduced short-term risk for traders.
- Open interest in Bitcoin futures increased slightly by 2.31%, staying below overheating thresholds.
After climbing to new all-time high above $107,837 per coin, Bitcoin continues to set records of growth as the largest cryptocurrency by market capitalization, latest CryptoQuant data shows. Nevertheless, the price of futures reached an incredible peak and yet the market does not seem to be overheated; instead it is growing pretty healthy.
Stability Returns to the Market as Neutral Sentiment Prevails
What is interesting, the funding rate has significantly reduced from 0.04 percent to 0.008 percent. This means that traders are paying much less to keep their positions – a sign of lower short-term risk of margin calls.
Taker buy/sell level, an essential measure of taking and selling attitudes, has been close to zero as it is now. In any case, this ratio does not look like it overly favors selling to the point where it signaled traders’ fundamental sentiment.
It has again set another record, achieving its highest trading value of $108,350 for one bitcoin. The cryptocurrency was able to rally through the roof, setting fresh record high after another as its investor bullish sentiment continues to be very strong. The journey which took Bitcoin to that of $108,350 can be termed as smooth inclined movement. Market leading predictors are on buying and selling, which depicts that Bitcoin isn’t purely ballooning in its value.
Minimal Disruptions Rising Without Overheating
Apart from a short liquidation noted at the very start of today’s trading, Bitcoin futures were not too active in terms of liquidations for the past 16 hours. There has been no forced position closures herein, which is a clear indication that price increase has been gradual and sustainable and not driven by volatility.
The general trading volume, or open interest in Bitcoin futures has risen by a meager 2.31% in the last one day. This means that although the recent rise suggests an increase in trader participation, it is still short of the 3 % level generally considered as the overheating mark.
