$BTC 🔥 Altcoin Mania: Record OI as Bitcoin Stays Calm
Altcoin futures open interest has hit an all-time high of $47B, signaling heavy leverage and the potential for bigger price swings. Meanwhile, Bitcoin dominance has slipped from 65% to 59% in just two months, showing capital rotation into altcoins.
Market Highlights:
Bitcoin ($BTC) is trading above $120K, close to its $123,091 ATH, after last week’s dip.
Ethereum ($ETH) pushed past $4,500, helping drive the surge in altcoin OI.
95% of BTC holders remain in profit, with unrealized gains suggesting a possible new price discovery phase.
Volatility Picture:
Bitcoin’s at-the-money implied volatility (ATM IV) continues to drop, meaning traders aren’t expecting major swings — but history shows this can set the stage for sudden volatility spikes if a catalyst hits.
Key Price Levels (Glassnode):
BTC: $127K is the next big resistance via the Short-Term Holder Cost Basis. A breakout could aim for $144K.
ETH: +1σ Active Realized Price points to $4,700 as the near-term barrier.
#ETH5kNext? #BTCReclaims120K #CPIWatch #CryptoIn