Australia’s Federal Court ruled Finder’s Earn product is not a financial instrument, defeating ASIC’s appeal in a major win for the country’s fintech sector.

Australian fintech Finder wins court battle over crypto yield product

Data shows the market still favors ETH even after Bitcoin’s sharp sell-off to 
$115,000.

ETH price still on track for $4K even as Bitcoin, altcoins sell-off

Ether exchange-traded funds (ETFs) extended their dominance with a 15th 
straight day of inflows, pulling in $231 million and crossing $20 billion in 
assets, while bitcoin ETFs snapped a three-day losing streak with $227 million 
in inflows. Ether ETFs Cross $20 Billion AUM as Bitcoin ETFs Return to Green 
With $227 Million Boost It was […]

Bitcoin ETFs Bounce Back as Ether ETFs Keep Winning With $231 Million Inflow

The investor warned against fraudulent paper claims made on hard assets, but 
ETF analysts told Cointelegraph that the fear is unfounded.

Robert Kiyosaki warns of the risk posed by BTC, gold and silver ETFs

XRP price retreated for the third consecutive day, approaching a local bear 
market as the crypto market sell-off intensified. Ripple (XRP) dropped and 
retested the important support level at $3, its lowest level in nearly a week. 
It has dropped…

Rare pattern reveals why the XRP price is crashing today

Data shows the Bitcoin Open Interest shot up to a new all-time high (ATH) even 
as the cryptocurrency&#8217;s price saw a retrace to $115,000. Bitcoin Open Interest 
Has Gone Against The Price Trend As explained by an analyst in a CryptoQuant 
Quicktake post, the Bitcoin Open Interest has witnessed a sharp surge 
alongside the latest decline in the price. The &#8220;Open Interest&#8221; here refers to 
an indicator that measures the total amount of positions related to BTC (in 
USD) that are currently open on all centralized derivatives exchanges. Related 
Reading: This Bitcoin Metric Often Flags Turning Points—What’s It Saying Now? 
When the value of this metric rises, it means the investors are opening up 
fresh positions on the market. Generally, the total leverage in the sector 
goes up when new positions appear, so this kind of trend can lead to more 
volatility for the cryptocurrency. On the other hand, the indicator going down 
suggests the holders are either closing up positions of their own volition or 
getting liquidated by their platform. Whatever the case be, the asset&#8217;s price 
can behave in a more stable manner after such a trend. Now, here is a chart 
that shows how the value of the Bitcoin Open Interest has changed over the 
last month: As displayed in the above graph, the Bitcoin Open Interest rose to 
a high value earlier in the month when the asset&#8217;s rally to the new all-time 
high (ATH) took place. This wasn&#8217;t anything unusual, as speculation tends to 
flood in during periods of exciting price action. As BTC retraced from its 
peak and settled into a phase of boring consolidation, the metric&#8217;s value 
calmed down a bit. Now, the coin has finally diverged from this sideways 
movement, showing a downwards move. Interestingly, the Open Interest has 
rocketed up alongside this price plunge and set a new record around $44.5 
billion. From the chart, it&#8217;s visible that price declines usually accompany 
drawdowns in the indicator, as longs find liquidation. &#8220;It&#8217;s unusual for BTC 
price direction and open interest to move in a negative correlation,&#8221; notes 
the quant. Related Reading: Crypto Liquidations Near $1 Billion As XRP, 
Dogecoin Crash 10% The spike in the metric could suggest some longs have 
decided to double down on their bets and some speculators have jumped in to 
get their shorts in, expecting the downtrend to continue. As mentioned before, 
an increase in the metric can amplify price volatility. This happens because 
the chances of a mass liquidation event taking place go up during such 
conditions. It now remains to be seen how this Open Interest increase would 
unwind this time around and whether a long squeeze or a short one would take 
place. BTC Price Bitcoin saw a brief dip under $115,000 earlier, but its price 
has since retraced a bit as it&#8217;s back at $116,000. Featured image from Dall-E, 
CryptoQuant.com, chart from TradingView.com