Analysis: The current market selling pressure is still strong, and the rise driven by derivatives usually lacks sustainability

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PANews
04-22
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PANews news on April 22, analyst Darkfost from CryptoQuant pointed out that the market is currently experiencing the largest 24-hour increase in open interest in recent times. Historically, rallies driven by derivatives often lack sustainability. During the strong bull market phases in November and December 2024, open interest grew by 16% and 15% respectively, with the spot market's positive momentum strongly supported by derivative market activity. However, this time the price has only risen by 4.2%, whereas similar past events led to price increases of 10% and 7% respectively. This difference indicates that selling pressure in the market remains strong.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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