• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
bitcoin

Here’s Who Was Behind Bitcoin’s Recovery To $22,000 According To Open Interest

Best Owie
by Best Owie
3 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin had recovered to $22,000 last week to the surprise of investors. It was an unexpected move on the part of the digital asset but it no doubt did a good number on the market sentiment during that time. The cryptocurrency has since lost a good portion of its gains from that recovery but a look back at the open interest from that period shows what was behind the recovery.

Derivatives Traders Lead The Market

The bitcoin open interest had surged significantly in the past week. It is no surprise given that the last recovery had also come off the back of a spike in open interest. Most notably, open interest had reached a new all-time high on July 8th, right around the time when bitcoin made its remarkable recovery.

Related Reading | Celsius Network Pays Down Its Aave Debt, Here’s How Much It Still Owes

Data shows that on that day, open interest had touched its new high at 352,722 BTC. As expected, this figure had dropped quickly, not much different from the movements that had followed previous rallies to new all-time highs. However, this points to the fact that the surge to a new open interest ATH had driven the recovery to $22,000. More specifically, it was the derivatives traders who had championed the move.

Another important tidbit that supports that derivatives traders had been behind the surge was the offshore basis. It had recorded a significant decline in the same, where the CME had dropped to 1% from its previous 2.5% by Friday. This followed the same downward retraction in the price of bitcoin after touching above $22,000.

Bitcoin open interest

Open interest surge to new all-time highs | Source: Arcane Research

Bitcoin-denominated open interest still remains high through. Even after the decline, it had managed to maintain at 330,00 BTC. This puts it at the June 13th highs that had followed the surge to $23,000 last month.

Bitcoin Volatility Continues To Settle

With the drive above $22,000 had come some much-needed stability in the market. This in no way means that the volatility had been completely eliminated but on a seven-day basis, the bitcoin volatility had been able to stabilize at 2.7%. Compared to the 30-day volatility range of 4.6%, it is quite low and sets the tone for the next 30 days. 

Related Reading | Bitcoin Mining Difficulty Adjusts Downward For Second Time In A Row

A number of factors are behind this dive in volatility and they have everything to do with the events that had triggered the bear market. An example is the aftermath of the Three Arrows Capital liquidation. With the liquidation filed, the market has now begun to fall into normal steps given that the fate of the hedge fund is being decided.

Bitcoin price chart from TradingView.com

BTC settles above $20,000 | Source: BTCUSD on TradingView.com

Others include lending platforms such as Voyager Digital and Celsius filing for Chapter 11 bankruptcy. These two platforms had kept investors on their toes for the longest time with no word of when they would be getting their funds back and the bankruptcy filings have at least shown a path towards resolution. Whether it would be for good or bad remains to be seen.

Nevertheless, this period of relative calm is not expected to last. With inflation numbers so high and economic tensions globally, the coming months may see wide fluctuations in volatility.

Featured image from, charts from Arcane Research and TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Follow

Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

Full Profile

Related Posts

BlackRock

Quantum Threat? BlackRock Flags Future Risk In Bitcoin ETF Filing

16 hours ago
Bitcoin

Bitcoin At The Core Of Bhutan’s Tiny Yet Mighty Investment Plan

2 days ago
Bitcoin

From Tokyo With Bitcoin: Metaplanet Tops El Salvador In Crypto Holdings

3 days ago
McGregor

McGregor For President? With Bitcoin In His Corner, Anything’s Possible

3 days ago
Bitcoin

Bitcoin Returns To Consolidation Phase Ahead Of Projected Surge To $106K-$110K Range

3 days ago
Bitcoin

Crypto Analyst Predicts Bitcoin To Hit $200,000 At Cycle Top – Details

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • How to Make $50,000 a Day – Mining Dogecoin (DOGE)...

    5 hours ago
  • BlockchainCloudMining helps you earn $4,950 a day, how to...

    6 hours ago
  • Earn passive income with XRP, Dogcoin and BTC: Win at least...

    7 hours ago
  • Bitcoin (BTC) Price Analysis: Launch XRP and DOGE Miners...

    8 hours ago
  • Earn $7,777 a day – PaladinMining allows users to pay...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Join Lightchain AI

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.