Bitcoin futures open interest hits a yearly high amid record low volatility and BTC trading volumes. noshitcoins says it could be a sign that traders have moved on to other markets with lower risk.
. Additionally, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission currently have their own legal actions against the exchange and its founder, Changpeng “CZ” Zhao.Taking a broader view of the situation, there is an added concern regarding the potential global economic recession triggered by the efforts of central banks to control inflation. The most recent U.S. core Consumer Price Inflation figures, which exclude food and gas prices, saw a 4.
When examining the price as an indicator, it becomes apparent that Bitcoin investors are currently not displaying significant confidence in the likelihood of a near-term approval for a spot ETF. At the same time, there is a notable sense of pessimism surrounding the ongoing legal challenges faced by Binance and the potential repercussions of these challenges.
Recent data points out that trading volumes for BTC futures have dropped to their lowest levels since December 2022, averaging below $7 billion per day. This suggests that traders are either fully protected against risks and not inclined to make further moves at the current price levels, or they have shifted their focus to other markets with higher volatility or better odds of significant changes.
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