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IntoTheBlock: Recent price increases have been driven by spot trading volumes

IntoTheBlock: Recent price increases have been driven by spot trading volumes

CointimeCointime2023/11/05 10:48
By:Cointime

The ratio of open interest to market capitalization (OI/MC) for BTCUSDT">Bitcoin perpetual contracts is still close to its annual low. This indicates that the recent price increase is driven by spot trading volume and suggests that there is more organic demand rather than leverage-driven effects from derivatives.

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