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Tag: Coinglass

  • XRP Sees 80% Spike In Major Metric, Why This Matters For Price Appreciation

    XRP has recorded a notable surge in one of its most closely watched derivative indicators, which brings attention to how traders are positioning around the asset. Data shows that open interest tied to XRP derivatives jumped by about 80% within a very short four-hour window in the recent trading day, pointing to a sudden influx of leveraged activity. 

    Moves of this magnitude rarely happen in isolation and often point to growing tension beneath the surface of price action, especially when they occur without a clean breakout on the chart.

    A Four-Hour Reversal After Days Of Weak Participation

    The spike in open interest shows a rapid increase in the number of outstanding XRP futures and perpetual contracts. When open interest rises this quickly, it usually means traders are aggressively opening new positions, often using leverage.

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    The speed of the move is what separates this spike from routine fluctuations. Prior to the surge, XRP open interest had been trending lower, showing reduced trader engagement and a cooling derivatives environment. 

    However, this change was quickly reversed when open interest increased by over 80% in just a four-hour timeframe, culminating in the total number of outstanding contracts standing around 1.74 billion XRP at the time of writing. In terms of price, this translates to about $3.26 billion in exposure being held open across XRP futures markets, according to data from CoinGlass.

    Why This Setup Matters For XRP Price Appreciation

    XRP’s price action has been slow in recent days, with the cryptocurrency currently trading at $1.87. Price action has started to respond positively in the short term, though only modestly so far. XRP is up about 0.3% over the past 24 hours, a move that looks small on the surface.

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    However, when open interest expands this quickly and price begins to edge higher at the same time, it means that traders are leaning bullish and testing the upside, even if spot buyers have not yet committed in size. The lack of a strong breakout at this stage shows that the market is still probing for direction, but the balance has begun to tilt away from complete stagnation.

    The broader price action adds more context after zooming out slightly. XRP has gained roughly 0.8% over the past seven days, indicating a slow grind higher rather than a sudden impulse move. If price continues to inch higher and manages to clear nearby resistance levels, the elevated open interest could amplify upside moves as short sellers are forced to exit. 

    On the other hand, if XRP’s price action stalls or falls back despite the recent 0.3% daily and 0.8% weekly gains, then the growing leverage on one side increases the risk of a bigger pullback. In that sense, even these small percentage gains matter.

    XRP trading at $1.87 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

    Scott Matherson

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  • Who’s Selling? Here’s The Demographic Driving The Bitcoin, Ethereum, And Dogecoin Price Crash

    Recent data has revealed the demographics of sellers driving the Bitcoin, Ethereum, and Dogecoin crash. The Coinbase BTC premium index also continues to drop further in the red, which strengthens the case of where exactly the sell pressure is coming from.

    The Demographic Behind The Bitcoin, Ethereum, And Dogecoin Price Crash

    In an X post, crypto pundit Crypto Rover noted that the U.S. session has been the weakest trading session so far this month. The pundit further shared an accompanying chart, which showed that BTC has suffered a loss of around 12% in the U.S. session since the start of November, also leading to the Ethereum and Dogecoin crash. 

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    Meanwhile, the EU has had the second-weakest session after the U.S., with Bitcoin dropping around 12% in this session since the start of this month. The Asian session has been the least volatile, with BTC trading sideways, recording a drawdown of only about 2% since the start of November. Ethereum, Dogecoin, and altcoins have also been stable during the Asian trading session. 

    Source: Chart from Crypto Rover on X

    Crypto pundit Bossman also indicated that the U.S. was responsible for most of the sell pressure that is driving the Bitcoin, Ethereum, and Dogecoin crash. In an X post, he noted that every single American session is marked by relentless selling for hours. Meanwhile, the Asians wake up, buy it all back, and then the Americans wake up, and the selling begins again.

    Notably, the Bitcoin, Ethereum, and Dogecoin prices record increased volatility whenever the U.S. stock market opens, with market commentator Zerohedge attributing it to the ‘10 am slam’ by market algos. This indicates that institutional investors are heavily contributing to the market crash. This is evident in the significant outflows recorded by Bitcoin ETFs in recent times. These funds have recorded five daily net outflows over the last seven days, according to SoSoValue data.

    Coinbase BTC Premium Index In The Red

    CoinGlass data shows that the Coinbase Bitcoin premium index is in the red, further confirming that most of the sell pressure driving the BTC, Ethereum, and Dogecoin crash is coming from the U.S. Typically, a negative premium indicates that the BTC price on Coinbase is lower than the average global price, which signals weak demand from U.S. investors. 

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    Crypto researcher Kyle Soska noted that Bitcoin and Ethereum are roughly 10 days into a derisking event by U.S.-based entities, likely a combination of ETF users and large private, ultra-high-net-worth individuals. He further remarked that this places the market near the end of the selling episode based on historical data. 

    Soska opined that the first of a near-term bottom would be a mean reversion of the Coinbase-Binance spot discount from its current level of around -$110 back to a more normal level range of around $40. 

    At the time of writing, the Bitcoin price is trading at around $85,000, down over 6% in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    BTC trading at $83,783 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • Ethereum Stuck In Tight Price Range — Levels To Watch

    Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

    Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

    In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

    In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

    Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

    Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

    Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

    Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

    Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

    He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

    In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

    His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

    Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

    Semilore Faleti

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  • Dogecoin Open Interest Crashes 50% From October Highs, Volume Is Worse, What’s Going On?

    Dogecoin (DOGE) is facing a steep market cooldown after weeks of heightened trading activity in early October. Data from CoinGlass shows that both Open Interest (OI) and trading volume for DOGE futures have crashed, indicating a sharp decline in the meme coin’s momentum. The latest figures reveal a significant pullback in derivatives activity and spot market participation, suggesting that traders may be retreating from speculative positions as volatility eases. 

    Dogecoin Open Interest Crashes Over 60%

    Dogecoin’s Open Interest has plunged dramatically from its October highs, reflecting a rapid exodus of leveraged traders from the market. According to CoinGlass, total exchange DOGE futures Open Interest has fallen over 62% from a peak of $5.03 billion on October 7 to $1.88 billion on October 28. This represents a drop to approximately 9.41 billion DOGE, valued at $ 0.20 per token.

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    Despite the decline in Open Interest, Binance, BitMEX, and Bybit continue to lead as the top exchanges with the highest Dogecoin futures activity. Still, the downturn has been widespread across exchanges. Kucoin recorded the largest drop in recent hours at 3.1%, followed closely by Bitget, which saw a 2.27% decline. Over the last 24 hours, Bitunix recorded the steepest drop in Open Interest, down 15.86%, while Crypto.com saw a 7.36% reduction. 

    Source: Chart from Coinglass

    Even Binance, which consistently leads Dogecoin futures trading, has seen a notable pullback. CoinGlass reports that the exchange’s Open Interest peaked at $964.7 million on October 7, marking a monthly high. Since then, it has fallen to $380.29 million (1.9 billion DOGE), representing a staggering 60.6% crash in just over three weeks.

    Dogecoin Sees Even Worse Decline In Volume

    Trading volume for Dogecoin has mirrored the collapse in Open Interest. CoinGlass data shows that Dogecoin’s futures volume heatmap across major crypto exchanges is in the red zone. Total trading volume had spiked to $20.45 billion on October 11, following the devastating crypto flash crash on October 10, but has since plummeted to $5.31 billion as of October 28. This represents a whopping 74% decline.

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    On individual exchanges, Binance’s DOGE trading volume dropped by 9.35% in the past 24 hours, while OKX saw a 13.69% decline. CoinEx recorded the largest volume decrease at 26.1%, followed by Gate.io at 23.94%. Popular exchanges like Bitget, Kucoin, and Bitunix also reported varying declines of 4.96%, 20.37% and 13.16%, respectively, as overall market liquidity thinned. 

    However, a few exchanges bucked the downward trend, recording slight gains. dYdX saw its DOGE volume surge by 167.61%, HTX increased by 49.93%, and Hyperliquid rose by 23.88%. Bybit and MEXC also recorded modest gains of 24.98% and 1.88%, respectively. 

    Alongside its decline in trading volume, CoinGlass notes that Dogecoin’s price performance has slipped. The meme coin is currently trading at $0.20, down 13.19% over the past 30 days and 2.86% in the last 24 hours.

    Dogecoin
    DOGE trading at $0.19 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Scott Matherson

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  • Trump’s new 100% tariffs on China triggered an $18 billion crypto sell-off

    (CNN) — President Donald Trump’s threat to impose an additional 100% tariff on imports from China sparked a massive cryptocurrency sell-off late Friday that exposed risky leverage in the space.

    Digital currencies bitcoin, ether and solana were among the most affected cryptocurrencies, bringing total liquidations to $18.28 billion as of 3:47 p.m. ET, according to data analysis platform CoinGlass. The losses for cryptocurrencies come amid a broad sell-off, as the Nasdaq and S&P 500 on Friday saw their steepest declines in six months.

    In the past 24 hours, roughly $5 billion of bitcoin has been liquidated, along with about $4 billion of ether and about $2 billion of solana, according to CoinGlass.

    It’s the “largest liquidation event in crypto history,” CoinGlass said in a post on X.

    Bitcoin is down almost 10% in the last five days and was trading at $111.616.20 as of 3:45 p.m. ET, a jump from when it dropped to $103,000 at 5:15 p.m. ET on Friday.

    On Friday, ether was priced at $4,365.63 and then sunk to $3,742.88 — a 14.2% decline.

    Solana was priced at $223.10 on Friday and has fallen to $178.72, as of 3:45 p.m. ET — a nearly 20% plunge.

    Crypto has made major gains since Trump took office this year, in large part because of the president’s turnaround from dismissing bitcoin as “based on thin air” to addressing crypto fans at conventions, launching his own meme coin and promising a strategic crypto reserve.

    And Trump recently issued an executive order allowing digital assets like crypto to be included in 401(k) plans, causing bitcoin to soar to a record high of $124,000 last week.

    Despite ongoing trade talks between Washington and Beijing, trade tensions re-escalated Thursday after China ramped up export restrictions on critical rare earth minerals.

    Auzinea Bacon and CNN

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  • Bitcoin (BTC)’s Price Faces Threat As Analyst Foresees $54.73 Million Liquidation

    Bitcoin (BTC)’s Price Faces Threat As Analyst Foresees $54.73 Million Liquidation


    According to data from CoinMarketCap, Bitcoin (BTC) has maintained its upward price trajectory over the last day, gaining by 4.04% to briefly trade above the $48,000 mark. As BTC now hovers around the $47,100 price zone, investors and market experts remain highly speculative about the token’s next action. On that note, popular analyst Ali Martinez has called a major prediction that could spell weighty losses for many investors. 

    Liquidity Hunters Target $45,810 In Potential Bitcoin Price Manipulation Plot 

    In an X post on Friday, Martinez predicted an incoming dip in Bitcoin’s price driven by a planned liquidation. Using data from the cryptocurrency futures trading platform, CoinGlass, the analyst stated the Bitcoin liquidation heatmap indicated that there is potential strategic liquidation in play.

    Martinez stated that liquidity hunters in the BTC market could be looking to push the token’s price as low as $45,810 for personal benefits. For context, liquidity hunters are traders or investors who actively seek opportunities in the financial markets to exploit changes in liquidity. 

    This set of market players often targets specific price levels where there is a concentration of stop-loss orders or where market liquidity is expected to be thin. By triggering liquidations or capitalizing on price movements, liquidity hunters aim to profit from short-term market inefficiencies. 

    According to Martinez, the liquidity hunters in the BTC market are currently looking to induce an estimated 3% decline in the token’s price. While this change may seem minimal, it represents an astounding $54.73 million in liquidations. Based on these numbers, BTC traders and investors should be wary of potentially significant losses in the coming days. 

    BTC Price Overview 

    The premier cryptocurrency has recently taken flight, gaining by 8.6% in the last two days after a flat period of consolidation stretching to the beginning of February. Interestingly, the asset’s pathway to higher gains appears more confident with recent developments in the Bitcoin spot ETF market, which recorded a total net flow of $403 million on February 8 – the highest value of that metric since January 17. 

    At the time of writing, Bitcoin trades at $47,238, with a 0.26% gain in the last hour. Meanwhile, the coin’s daily trading volume has soared by 56.33% and is now valued at $39.42 billion. In addition, BTC maintains its top spot in the crypto market with a total market cap of $924.67 billion. 

    BTC trading at $47,229 on the daily chart | Source: BTCUSDT chart on Tradingview.com

    Featured image from Nairametrics, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.





    Semilore Faleti

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