BTC $71,398.13 -4.26%
ETH $2,014.31 -3.16%
BNB $653.87 -4.79%
XRP $1.03 -2.67%
SOL $81.41 -4.22%
TRX $0.3154 -0.52%
DOGE $0.0659 -3.93%
ADA $0.1723 -2.95%
BCH $225.30 -2.76%
LINK $10.07 -3.44%
HYPE $71.79 -1.95%
AAVE $114.23 -7.26%
SUI $0.8026 -4.25%
XLM $0.1491 -0.36%
ZEC $957.36 -4.43%
AAPL $355.03 -0.27%
AMZN $267.64 +0.47%
GOOGL $299.00 +1.80%
MSFT $523.25 +0.52%
META $624.78 -0.81%
NVDA $166.52 -4.23%
TSLA $397.50 +1.49%
SNDK $937.16 -4.42%
INTC $61.22 -2.08%
SPCX $140.11 -0.22%
MU $799.62 -1.68%
AMD $585.84 +5.63%
BTC $71,398.13 -4.26%
ETH $2,014.31 -3.16%
BNB $653.87 -4.79%
XRP $1.03 -2.67%
SOL $81.41 -4.22%
TRX $0.3154 -0.52%
DOGE $0.0659 -3.93%
ADA $0.1723 -2.95%
BCH $225.30 -2.76%
LINK $10.07 -3.44%
HYPE $71.79 -1.95%
AAVE $114.23 -7.26%
SUI $0.8026 -4.25%
XLM $0.1491 -0.36%
ZEC $957.36 -4.43%
AAPL $355.03 -0.27%
AMZN $267.64 +0.47%
GOOGL $299.00 +1.80%
MSFT $523.25 +0.52%
META $624.78 -0.81%
NVDA $166.52 -4.23%
TSLA $397.50 +1.49%
SNDK $937.16 -4.42%
INTC $61.22 -2.08%
SPCX $140.11 -0.22%
MU $799.62 -1.68%
AMD $585.84 +5.63%

btc

Bitcoin is a decentralized digital currency proposed by Satoshi Nakamoto in 2008 and released as open-source software in 2009. It is based on blockchain technology and verifies transactions through a peer-to-peer network, using a proof-of-work (PoW) consensus mechanism. The core feature of Bitcoin is its limited supply, with a total of 21 million coins, which has anti-inflation characteristics. As the first cryptocurrency, Bitcoin is widely accepted globally, used for payments, and regarded as a store of value. Its decentralization and security make it the cornerstone of the cryptocurrency market.
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Analysis: The process of deleveraging has accelerated, and Binance's Bitcoin open interest has decreased by 17% in one month

CryptoQuant analyst Darkfost stated that within less than a month, the open interest of BTC on the Binance platform has decreased from 10.6 billion dollars to 8.8 billion dollars, a drop of 17%. Meanwhile, its 180-day moving average has risen from 8.4 billion dollars to 8.6 billion dollars. As the open interest falls below the moving average, new signals of deleveraging are emerging in the market. In a bull market phase, this signal typically appears when market corrections are nearing their end, reflecting that traders are reducing their leveraged exposure, which includes both voluntary liquidations and forced liquidations due to insufficient margin.Aside from the fact that this process may last for months in a bear market, a similar signal last appeared in June of this year when the BTC price was below 60,000 dollars, subsequently rebounding to above 87,000 dollars, with an increase of over 45%. Currently, as the open interest declines, the market is also experiencing large-scale liquidations. Low volatility seems to encourage some traders to take on higher risks to compensate for the insufficient returns brought about by the narrowing price fluctuations, making them more susceptible to market reversal shocks. Over the past three months, the monthly liquidation scale on Binance has reached new highs since 2021: over 1.4 billion dollars in August, 1.1 billion dollars in September, and 1.3 billion dollars in October. This trend appears to continue into November, with the liquidation scale exceeding 520 million dollars before the end of the first half of this month.These data highlight the potential losses that leveraged trading can bring to investors. In a market environment with low volatility and shrinking trading volume, blindly increasing risk exposure due to a lack of patience can quickly lead to heavy costs. However, the deleveraging phase also helps improve the market environment. Reducing leveraged positions can lower the risk of cascading liquidations, allowing spot demand to play a greater role in market pricing, thereby helping Bitcoin establish a more robust market structure.

Data: Hyperliquid HIP-3 Nvidia's open interest contract size reached 535 million USD, second only to BTC, ETH, and HYPE

According to monitoring by Mlm on chain, Nvidia (NVDA) has currently become the largest HIP-3 market by open contract size on Hyperliquid, and it is the fourth largest market on the platform, only behind BTC, ETH, and HYPE. Its open contract size has reached 535 million dollars, growing 5.8 times in the past 7 days, which is 2.4 times the previous peak of 227 million dollars in June of this year.Currently, the NVDA market's daily trading volume has surpassed 1 billion dollars for the first time. The largest single position is a short position of 348,000 shares of NVDA held by Jump, valued at approximately 56 million dollars, which is a non-directional position. The largest directional position is a long position of 191,000 shares of NVDA, valued at approximately 30.7 million dollars, which has been gradually built up over the past 24 hours, with an average entry price of 174.43 dollars, currently showing an unrealized loss of about 2.6 million dollars.The market has a total of 9,517 trading wallets, of which 83% hold long positions; market makers account for 70% of the short open contract size. The average entry price for longs is currently 169.55 dollars, while the mark price is 160.66 dollars, which is about 5.2% lower than the average entry price. The total unrealized losses for all NVDA long positions have reached 14.6 million dollars.
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