Bitcoin loses 30k support, as futures open interest contracts unwind

Quick Take

• Bitcoin lost its $30,000 support this morning and is currently at $29,500.
• Five days ago, CryptoSlate analyzed that open interest jumped by the fifth largest amount in one day. This was a significant driver in pushing the price over $30,000.
• In the past 24 hours, over $100 million of liquidations have occurred in crypto, flushing out late longs.
• Roughly 375,000 BTC sit in open futures contracts, a decrease of 25,000 BTC from the weekend.

The post Bitcoin loses 30k support, as futures open interest contracts unwind appeared first on CryptoSlate.