[Bitop Review] Bitcoin Surges Past $70K, Ethereum Nears $2600, But Record-High BTC Open Interest Hints at Potential Reversal?
2024年10月29日发布
Bitcoin (BTC) reached a three-month high of $70,332 early this morning, currently trading at $69,910, representing a 3.25% increase in the past 24 hours. This surge has broken above the downward trendline established in March, rekindling investor enthusiasm and fueling hopes of a potential challenge to the all-time high of $73,679 set in March.
According to Coinglass data, the total open interest of Bitcoin futures contracts across all exchanges has reached a new historical high of 586,000 BTC (approximately $40.9 billion). Elevated open interest levels often serve as a topping signal for prices, prompting investors to exercise caution against potential amplified volatility.
Global Liquidations Exceed $170 Million in 24 Hours
Coinglass data reveals that the cryptocurrency market experienced approximately $173 million in liquidations over the past 24 hours, with over 67,000 traders facing margin calls. However, given the relatively lower liquidation volume during the weekend, the expectation is for volatility to potentially escalate further.
Key Economic Events This Week
10/29
US: Conference Board Consumer Confidence for October (Previous: 98.7)
US: JOLTS Job Openings for September (Previous: 8.040M)
10/30
Germany: Q3 GDP (QoQ) (Previous: -0.1%)
Switzerland: Central Bank Press Conference
UK: Autumn Budget
US: Non-Farm Payrolls for October (Previous: 143K)
US: Q3 GDP (QoQ) (Previous: 3.0%)
Germany: CPI (MoM) for October (Previous: 0.0%)
US: Crude Oil Inventories (Previous: 5.474M)
10/31
China: Manufacturing PMI for October (Previous: 49.8)
Japan: Interest Rate Decision (0.25%)
Hong Kong: Q3 GDP (QoQ) (Previous: 0.4%)
Hong Kong: Q3 GDP (YoY) (Previous: 3.3%)
Eurozone: CPI (YoY) for October (Previous: 1.7%)
US: Core PCE Price Index (YoY) for September (Previous: 2.7%)
US: Core PCE Price Index (MoM) for September (Previous: 0.1%)
US: Initial Jobless Claims
11/1
US: Average Hourly Earnings (MoM) for October (Previous: 0.4%)
US: Non-Farm Payrolls for October (Previous: 254K)
US: Unemployment Rate for October (Previous: 4.1%)
US: ISM Manufacturing PMI for October (Previous: 47.2)
US: Manufacturing PMI for October (Previous: 47.8)
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