Posted 3/4/2024, 6:06:00 AM
Surging Crypto Trading Signals Growing Speculative Frenzy
- Open interest in SHIB futures tops $100 million, indicating speculative excess in crypto markets
- Supply-demand imbalance for bitcoin has grown to 110, suggesting a rally to new highs this week
- Trading volumes in South Korea have surged to $8 billion per day from $1 billion
- OTC trading desks' bitcoin inventory has dropped from 10,000 BTC in Q2 to less than 2,000 BTC
- Grayscale spot ETF saw $600 million outflows on Thursday; inflows into BlackRock's ETF slowed but could resume
