Bitcoin 6% Price Fall Sparks Open Interest Plunge – Altcoins The New Frontier?

Quick Summary:

Recent trends in the cryptocurrency market have actually shown a definite materialization of change in trading dynamics, especially when the open interest of Bitcoin is depressed and that of the altcoins surges, particularly Ethereum.

This indeed evidences how traders are shifting their capital to look for greener pastures in the altcoin market.

This already represents a remarkable uptick of 5% in figures compared to December, depicting the tough resilience Ethereum faces out there in the wake of Bitcoin’s struggles.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: Hungary

Topics: Bitcoin Ethereum Crypto Altcoins Crypto News ETH Btcusd Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-28 @ 22:00:06 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 497 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22291863

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 3 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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