Bitcoin market in ‘hibernation’ as perp trading activity sinks to three-year low ahead of US CPI release: K33
60-second summary
Bitcoin market activity has dropped to a three-year low, according to K33, indicating a state of 'hibernation.' Elevated open interest leaves the market vulnerable to sharp liquidation-driven moves. Traders are anxiously awaiting Wednesday's US CPI report, which could spark significant price fluctuations, potentially impacting Bitcoin's volatility and overall market sentiment.
Elevated open interest leaves the market exposed to sharper liquidation-driven moves, K33 said, as traders await Wednesday's U.S. CPI report.