Crypto Market Update: BTC Holds Near $119K Despite U.S. Activity and Germany's Cash Out
QCP warns of froth as BTC funding rates near 30% and open interest tops $43B, levels last seen before February's $2B wipeout.
Bitcoin (BTC) continues to hover near $119,000 despite significant movements in the market. Investors are closely watching as the U.S. loads up on crypto assets while Germany seems to be cashing out. The crypto market is seeing high levels of activity with BTC funding rates nearing 30% and open interest exceeding $43 billion, reaching levels last seen before February's significant drop.
Experts are cautioning against potential froth in the market, highlighting the need for careful monitoring of these critical metrics. As the market dynamics shift, investors are advised to stay informed and make well-informed decisions to navigate the volatile crypto landscape.