Altcoin open interest overtakes Bitcoin after 21 months
macro
Altcoin futures open interest has surpassed Bitcoin's for the first time in 21 months, indicating traders have shifted more leveraged exposure into altcoins. The move reflects a rotation of speculative capital toward higher-risk, higher-reward tokens and growing trader conviction in non-BTC opportunities. For Bitcoin, this raises the risk of downward pressure on BTC dominance and higher short-term volatility as leverage concentrates in smaller-cap markets, although Bitcoin remains the market’s primary liquidity and settlement asset.
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