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Bitget2024/06/03 07:11

By:Bitget

Bitcoin just had its best May since 2019 despite 'predatory' 3% BTC price dip

Data from TradingView showed BTC/USD flat at the monthly close after recovering from weekly lows. It had come courtesy of concerns over a cryptocurrency exchange hack in Japan in addition to “predatory” moves by traders as the monthly close approached.

United States macroeconomic data in the form of the Personal Consumption Expenditures (PCE) index failed to lift the mood substantially despite narrowly beating expectations, showing inflation to be slowing. In the event, Bitcoin reversed at around $66,650, delivering a close, which put May monthly gains at 11%. “Bitcoin is consolidating nicely here,” Michaël van de Poppe, founder and CEO of trading firm MNTrading, subsequently summarized.

Source: CoinTelegraph

Futures Market Updates

The return of bullish sentiment is reflected in the Long/Short ratio and the Funding Rates on BTC and ETH futures markets.

Bitcoin Futures Updates

Total BTC Open Interest: $34.54B (+1.11%)

BTC Volume (24H): $34.53B (+69.64%)

BTC Liquidations (24H): $10.10M (Long)/$20.00M (Short)

Long/Short Ratio: 50.43%/49.57%

Funding Rate: 0.0122%

Ether Futures Updates

Total ETH Open Interest: $16.41B (-1.34%)

ETH Volume (24H): $17.23B (+17.26%)

ETH Liquidations (24H): $10.87M (Long)/$5.86M (Short)

Long/Short Ratio: 49.73%/50.27%

Funding Rate: 0.0207%

Top 3 OI Surges

NYAN: $8.81M (+151.12%)

RACA: $3.27M (+68.51%)

ZERO: $1.49M (+65.85%)

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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