CandleFocus Sellers Exhausted? Open Interest on Altcoin Plummets 55% From All-Time High Amid Market Shift
2024-09-12
Author: Content Editor
According to a Bitfinex Alpha report, the price of Bitcoin and its open interest remain high, while altcoin open interest has decreased significantly since March. Bitcoin's dominance in the cryptocurrency market has reached its highest value since March 2021, but altcoins have shown a rise in market capitalization during September's downturn. This suggests that investors are shifting away from the safety of Bitcoin and betting on other digital assets. However, the decrease in Bitcoin's dominance could indicate that altcoins may continue to outperform Bitcoin during market upsides and show resilience during downturns.
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