Bitcoin, Ether Slip Under 0.4% as $106 Billion Open Interest Signals Fresh Shorts
Updated
Updated · CoinDesk · Jun 24
Bitcoin, Ether Slip Under 0.4% as $106 Billion Open Interest Signals Fresh Shorts
3 articles · Updated · CoinDesk · Jun 24
Summary
Bitcoin and ether each fell less than 0.4% by Wednesday, while the CoinDesk 20 Index lost 0.9% with 18 constituents down, extending a weak crypto session despite a partial rebound in U.S. equity futures.
$106 billion in derivatives open interest rose 2% as 24-hour volume dropped 27% to $141 billion, a mix that points to bearish positioning rather than capitulation; liquidations were only $158 million, the lowest in two weeks.
Ether open interest climbed to 14.3 million ETH as spot prices slid from about $1,780 to $1,650, and SOL open interest hit a record 77.68 million tokens with negative funding and CVD—both signs of fresh shorting.
Deribit's one-week put-call skew widened to 10.9 volatility points from about 7, showing stronger demand for downside protection as bitcoin tests the key $60,000 support level.
A stronger U.S. dollar added pressure on risk assets, though pockets of demand remained: jupiter and monero gained 2% to 4% even as tokens including ENA, PUMP and XLM fell 2.2% to 3.5%.