Matrixport: The overall market is still in risk-avoidance mode, waiting for clearer macroeconomic signals
Odaily Planet Daily reports that Matrixport released a chart today stating that we are witnessing a significant decline in open interest futures contracts with the drop in prices. This indicates that under the uncertainty of escalating trade wars and the Federal Reserve's continued hawkish stance, some traders are unwinding their long positions.
It is worth noting that Ethereum's open interest contracts have fallen back to their lowest level since the summer of 2024. Despite Trump recently mentioning on Twitter about possibly establishing a Strategic Bitcoin Reserve, and the White House Crypto Summit scheduled for March 7th, the overall market is still in risk-off mode, with investors cutting back on risk exposure. Many traders seem to be waiting for clearer macroeconomic signals before re-establishing long positions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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