Shiba

Strong

Million

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-futures-surpass-100-million-indicating-strong-investor-interest/" data-wpel-link="internal">Shiba Inu Futures Surpass $100 Million, Indicating Strong Investor Interest</a><br></p>
<p style="text-align: justify"><strong>The cryptocurrency market</strong> is showing concerning levels of speculative excess as the open interest indicator for the popular memecoin <a href="https://en.coin-turk.com/positive-news-shiba-inus-token-withdrawal-from-exchanges-and-the-success-of-shibarium/" data-wpel-link="internal">Shiba</a> Inu (SHIB) futures exceeds $100 million, signaling strong investor interest. SHIB’s market value has increased by over 130% in the last 7 days, and experts are warning against excessive speculative price movements and drawing attention to an impending market correction following the increase in open interest. Additionally, an expert emphasizes the supply-demand imbalance for <a href="https://en.coin-turk.com/spot-bitcoin-etfs-expected-to-attract-billions-of-dollars-to-the-market/" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/investment-point-in-bitcoin/" data-wpel-link="internal">BTC</a>), noting that the ratio has risen to 1:10 and believes that the largest cryptocurrency could set a new record this week.</p> 
<h2 style="text-align: justify" id="strong-surge-in-open-interest-to-100-million-raises-alarm-in-bitcoin-market-strong"><strong>Surge in Open Interest to $100 Million Raises Alarm in Bitcoin Market</strong></h2> 
<p style="text-align: justify">According to CoinGlass data, the nominal open interest in Shiba Inu’s futures has surpassed the $100 million mark for the first time since August 2023. This increase in open interest, combined with SHIB’s sharp rise in market value, indicates a significant capital inflow into the altcoin.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-322583" src="https://coin-turk.com/wp-content/uploads/2024/03/Shiba-Inu-SHIB-Altcoin-1.jpeg" alt="" width="1622" height="434"></p> 
<p style="text-align: justify">Historical patterns, however, highlight that open interest exceeding $100 million in SHIB futures has previously signaled potential market corrections. This could mean that Bitcoin is reaching or about to reach temporary or local price peaks.</p> 
<h2 style="text-align: justify" id="strong-expert-anticipates-bitcoin-to-set-new-record-this-week-strong"><strong>Expert Anticipates Bitcoin to Set New Record This Week</strong></h2> 
<p style="text-align: justify">The speculative frenzy in the market extends beyond SHIB. Trading volumes in South Korea are averaging around $8 billion, a significant increase from the $1 billion daily level observed before the Bitcoin bull run gained momentum. Markus Thielen, founder of 10X Research, links this increase in individual investor activity to the rise in trading volumes on South Korean exchanges.</p> 
<p style="text-align: justify">Thielen predicts that Bitcoin could reach a new all-time high of over $69,000 this week, influenced by the significant inflow into US-based spot ETFs, which exceeds the daily creation of BTC. He also warns that the current 1:10 supply-demand imbalance, due to institutional demand exceeding daily mining supply, could lead to sharp market movements.</p> 
<p style="text-align: justify">While ongoing outflows from Grayscale’s spot ETF (GBTC) and a temporary slowdown in inflows to BlackRock’s IBIT indicate short-term volatility in investor sentiment, Thielen believes that strong inflows into BlackRock’s spot Bitcoin ETF could resume and trigger a significant upward movement in Bitcoin’s price.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-futures-surpass-100-million-indicating-strong-investor-interest/" data-wpel-link="internal">Shiba Inu Futures Surpass $100 Million, Indicating Strong Investor Interest</a></h5>

Shiba Inu Futures Surpass $100 Million, Indicating Strong Investor Interest

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