Low trading volumes and subdued price action pointed to a consolidation phase for the crypto market.This development reflected a broader market transition toward caution, driven by macroeconomic uncertainties and recent price volatility.reveals a steep plunge in OI, with figures falling from their recent highs as traders adopt a more conservative approach.AMBCrypto’s analysis showed that the OI dropped from almost $40 billion to the current range of $27 billion.
Trading at $93,316 at press time, Bitcoin has dropped below its 50-day moving average of $97,654, signaling a bearish turn in the short term.At 2.64K, volume levels remained relatively low, further highlighting the reduced trading activity and lack of directional conviction among market participants.
A breach of these levels could either accelerate a further sell-off or trigger a recovery, depending on the broader market sentiment.The plunge in Bitcoin Options OI signals a shift in market dynamics, with traders and investors turning more cautious in their approach.
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