Bitget Futures Market Update: Futures CVD Dips As Powell Pushed Back Against Rate Cut Bets

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Bitget2024/02/02 05:45

By:Bitget

Bitget Futures Market Update: Futures CVD Dips As Powell Pushed Back Against Rate Cut Bets image 0

The chart shows the 24-hour change in cumulative volume delta (CVD) in futures and perpetual futures tied to the top 25 cryptocurrencies by market value.
Except for BTC, TRX, ATOM, and XMR, the CVD has been negative for most coins, indicating net selling pressure.
On Wednesday, Federal Reserve Chairman Jerome Powell pushed back against bets of a U.S. rate cut as soon as March, sending the dollar index to seven-week highs.

Source: Velo Data/CoinDesk

Futures Market Updates

Over the past 24 hours, the futures market went through a series of liquidations on short positions after a pullback. Major cryptocurrencies such as BTC and ETH still dominate the market. Investors are balanced between their long contracts and short contracts.

Bitcoin Futures Updates

Total BTC Open Interest: $17.54B (+2.50%) BTC Volume (24H): $37.73B (-19.51%) BTC Liquidations (24H): $9.20M (Long)/$17.51M (Short) Long/Short Ratio: 50.68%/49.32% Funding Rate: 0.0075%

Ether Futures Updates

Total ETH Open Interest: $7.66B (+1.96%) ETH Volume (24H): $13.15B (-33.14%) ETH Liquidations (24H): $5.05M (Long)/$9.02M (Short) Long/Short Ratio: 50.11%/49.89% Funding Rate: 0.0054% ---

Top 3 OI Surges

ZETA: $27.49M (+559.7849.24%) PYTH: $92.88M (+73.56%) JUP: $51.81M (+58.45%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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