🚀 Binance futures positions break record, is a huge market volatility coming? 🌊
The latest news is that Binance's contract positions have reached an astonishing $9.5 billion, setting a record high! This is not just a simple position data, but also means that market volatility may increase.
Binance's current contract positions are $9.541 billion, accounting for about 21% of the total open interest of $46.11 billion on all exchanges.
At the same time, the price of Bitcoin has also soared in the past two days, breaking through $75,000 on Wednesday and breaking through the $76,000 mark on Thursday morning. It is still stable at around $75,000. It seems that Trump's victory in the election has supported cryptocurrencies and made the market sentiment very good.
But don't forget that a surge in open interest is usually a signal of market liquidation, and large positions also mean large fluctuations. Simply put, both longs and shorts may face pressure, which may lead to a wave of liquidations.
Moreover, Trump's return has made the cryptocurrency market more excited, and the "Coinbase Premium Index" has soared, indicating that the demand for Bitcoin in the United States may be rising. Also, on November 6, 11 new whale wallets withdrew 1,807 Bitcoins worth $132 million from Binance, which is not a small move!
However, analysts also remind us that Bitcoin's rise may face a temporary reversal. Because the TD Sequential indicator shows that Bitcoin's 4-hour chart has issued a sell signal, suggesting a possible pullback to $72,000. But if it can stay above $75,400, the bearish setup will be invalid, and Bitcoin may continue to rise to $78,000.
👇What do you think? Do you think this wave of Bitcoin's rise can continue? How volatile will the market be? Share your thoughts in the comment section and let's discuss together!
