In the past two weeks, there has been significant attention on the data of open contracts, which can also reflect the current speculative situation of investors. First, regarding the open contracts of $BTC, it can be observed that although BTC's price has primarily been declining over the past two weeks, the open contracts have not shown a significant weakening trend; instead, they are oscillating upwards. This indicates that the competition between bulls and bears is increasing, and investors have begun to increase their leverage on BTC, which may lead to greater price volatility for BTC. This is not a very optimistic data point.

Similarly, for the open contracts of ETH, although it is at a historically high level, with the decline in $ETH's price, it can be seen that the volume of open contracts has also decreased in the past two weeks. This indicates that the leverage funds for ETH are gradually weakening. However, since it is already at a high level, the weakening is still ongoing. Currently, ETH's leverage remains high, but if it can continue to decrease, it will be beneficial for ETH's growth.

This article is sponsored by #Bitget ｜ @Bitget_zh

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