news 
Futures Markets Experience Cooling Trend as Open Interest Drops Across Major Cryptocurrencies
In a recent tweet by glassnode, it was reported that the cryptocurrency market has stalled in terms of momentum. According to the data provided, major assets like Bitcoin (BTC) have seen significant declines, with Ethereum and Solana dropping even further. The Memecoins market, which had experienced an impressive surge in value at the end of 2024, has now been hit with a sharp correction, down 37.4% since then.
The data suggests that open interest across major cryptocurrencies has dropped significantly, indicating a cooling trend in the futures markets. With investors and traders alike adopting a more cautious approach due to recent market turbulence, it is likely that open positions will continue to decline as long as sentiment remains subdued.
Bitcoin has continued its steady upward movement since the beginning of 2023, with its value remaining roughly 3.4 times its April 2023 worth. Solana and Ethereum have not been able to replicate this success, instead trading at a significantly lower multiple to their respective values in April 2023.
Despite the current market correction, it remains unclear whether any asset will be able to regain its prior momentum or if new forces of change could potentially bring about significant growth for certain assets.
Source: nulltx.com
