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Cryptocurrency prices have tumbled in jarring fashion over the last 24 hours, with BTC, ETH, SOL, and ADA recording steep losses. As traders try to make sense of the crypto market crash, the immediate cause is heightened US-Iran tensions and the grim prospects of an Iranian retaliation on US soil. Crypto Market Sheds $1.1 Billion
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Bitcoin open interest has seen a substantial increase following the Federal Reserve’s May 7 FOMC meeting when BTC briefly touched $96,000. According to the data, aggregated open interest jumped as Bitcoin’s price climbed toward the $100,000 level.
Bitcoin open interest has jumped by $2 billion in a single day following BTC’s movement around the $96,000 level during the May 7 FOMC meeting. According to the chart data, aggregated open interest rose from approximately $17.5 billion to $19.15 billion. This is an 11.63% increase in just 24 hours.
$BTC $1.8B in OI has been added since yesterday after FOMC pic.twitter.com/bb31qXY2Ce
— exitpump (@exitpumpBTC) May 8, 2025
The timing of this open interest surge coincides directly with Bitcoin’s price action on May 7-8. This was when the cryptocurrency began a strong upward move from the $95,000 range toward $100,000. The chart clearly shows that open interest began climbing on May 7, with the steepest increase occurring over a 16-hour period.
This $2 billion influx of new positions is nothing but fresh capital entering the Bitcoin futures market. This may mean that the traders are more confident these days following a decision by the Federal Reserve to keep interest rates constant. The volume indicator of the price chart shows that higher trading occurred in this time period. This further confirms that more individuals are getting into the market.
Bitcoin open interest is the aggregate value of open futures contracts. Abrupt spikes usually indicate shifts in market sentiment and potential price movements. The current value of $19.15 billion in BTC open interest indicates that traders are placing massive bets on price action in the near future.
The recent Bitcoin price rally has improved the profitability profile of market participants according to Glassnode data. When BTC dipped to the local low of $74,000, more than 5 million Bitcoin were held in underwater positions. However, the subsequent recovery has reduced this number to approximately 1.9 million BTC. This shows that over 3 million Bitcoin have returned to a profitable state.
As the market approached the current local low of $74k, more than 5M BTC were held in an underwater position. However, as the market recovery has taken place, this number has fallen to around 1.9M BTC, indicating that over 3M BTC have returned to a state of profit. pic.twitter.com/J7cmxlRyMH
— glassnode (@glassnode) May 8, 2025
This transition from loss to profit for many holders generally strengthens market sentiment, as investors experience financial relief. This comes amidst the surge in Bitcoin open interest. The data shows that a considerable number of short-term holder coins have returned to profitability as Bitcoin pushed above $95,000. This change is likely to drive profit-taking events as the market continues to show strength, as per Glassnode.
With Bitcoin’s price reaching as high as $99,800, the market has attracted fresh capital inflows. The realized cap, which measures the value of all Bitcoin at the price at which they last moved, has climbed to an all-time high of $889 billion. This metric confirms that new money is entering the Bitcoin ecosystem and supports the current price levels.
The post Bitcoin Open Interest Jumps $2B in a Day: Is the Rally Sustainable? appeared first on CoinGape.
Cardano has noted significant whale activity over the past 24 hours, aligning with the broader market recovery. During that period, the total crypto market capitalization has added another $50 billion, signaling renewed bullish momentum.
As bullish pressure strengthens, ADA appears poised to re-commence an upward trend.
On-chain data shows that Cardano whales, holding between 100 million and 1 billion coins, have acquired 190 million ADA in the past 24 hours. This cohort of large ADA investors currently holds 3.22 billion coins.
When whales increase their coin holdings, it signals strong confidence in the asset’s future price potential.
Large-scale accumulation like this would reduce ADA’s available supply in the market, which can drive up its price if demand remains steady. The trend indicates a bullish outlook, as whales typically buy in anticipation of higher prices.
ADA’s Network Realized Profit/Loss (NPL) further supports this bullish outlook. At press time, it stands at -15.87 million.
This metric measures the net profit or loss of all coins moved on the blockchain depending on their acquisition cost. When an asset’s NPL is negative, many investors are holding at a loss.
This situation is known to reduce the selling pressure in the market, as traders may choose to hold their assets instead of realizing losses, which could support a potential price rebound.
The steady dip in ADA’s NPL indicates that many holders are sitting on unrealized losses. To avoid selling at a loss, they may choose to hold onto their investments, reducing selling pressure. The increased holding time could, in turn, drive up ADA’s price as supply tightens in the market.
At press time, ADA trades at $0.72. On the daily chart, the coin’s Chaikin Money Flow (CMF) is in an uptrend and poised to cross above the zero line, highlighting the rise in buying pressure.
The indicator measures fund flows into and out of an asset. When it attempts to break above the zero line, it signals a potential shift from selling pressure to buying pressure.
If the breakout is sustained, it would confirm strengthening bullish momentum in the ADA market and hint at a potential price uptrend. In this case, the coin’s price could rally toward $0.82.
However, if selloffs intensify, this bullish projection will be invalidated. In that scenario, ADA’s price could fall to $0.60.
The post Cardano’s Supply Tightens as Whales Buy 190 Million ADA in 24 Hours – What Next? appeared first on BeInCrypto.
The post FalconX and Standard Chartered Partner for Crypto Solutions appeared first on Coinpedia Fintech News
FalconX, a top digital asset prime broker, has announced a new partnership with Standard Chartered, a major global banking group. This strategic collaboration aims to provide institutional clients with advanced crypto investment solutions. The move strengthens FalconX’s position in the digital asset market and offers enhanced services to meet the growing demand for institutional crypto investments, creating new opportunities in the rapidly evolving crypto space.
The post FalconX and Standard Chartered Partner for Crypto Solutions appeared first on Coinpedia Fintech News
FalconX, a top digital asset prime broker, has announced a new partnership with Standard Chartered, a major global banking group. This strategic collaboration aims to provide institutional clients with advanced crypto investment solutions. The move strengthens FalconX’s position in the digital asset market and offers enhanced services to meet the growing demand for institutional crypto …