August 2nd Futures Market Update
Bitget2024/08/02 05:02
By:Bitget
Large Bitcoin Holders Added $5.4B in BTC in July
In a display of confidence, large bitcoin holders, often adept at timing market moves, boosted their coin stash in July at the fastest pace in years, capitalizing on the two-way price volatility.
Large holders, or addresses owning at least 0.1% of BTC's circulating supply, snapped up over 84K BTC, worth $5.4 billion at the current market price, according to data tracked by blockchain analytics firm IntoTheBlock and TradingView. That's the biggest single-month tally in BTC terms since October 2014.
The accumulation was characterized by bargain hunting during the early July price dip to under $55,000 and brief pauses in the subsequent recovery to $69,000. BTC ended July with a meager 3% gain. This strategic accumulation likely indicates a strong belief that the prolonged consolidation phase between $50,000 and $70,000 will eventually end with a bullish breakout, extending the initial rally from $16,000.
Analysts are optimistic about bitcoin's price prospects.
Source: CoinDesk
Futures Market Updates
BTC plunged, then climbed back, causing liquidations on both sides.
Bitcoin Futures Updates
Total BTC Open Interest: $34.48B (-1.13%)
BTC Volume (24H): $81.44B (+29.03%)
BTC Liquidations (24H): $48.63M (Long)/$29.44M (Short)
Long/Short Ratio: 48.60%/51.40%
Funding Rate: 0.0099%
Ether Futures Updates
Total ETH Open Interest: $14.07B (-1.96%)
ETH Volume (24H): $30.92B (+19.02%)
ETH Liquidations (24H): $51.11M (Long)/$10.79M (Short)
Long/Short Ratio: 48.58%/51.62%
Funding Rate: 0.0088%
Top 3 OI Surges
DOP1: $6.41M (+166.68%)
AMB: $14.16M (+116.27%)
L3: $7.18M (+82.09%)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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