ETH Open Interest has calmed down drastically

ETH-Open-Interest-has-calmed-down-drastically

BTC Open Interest has finally been reset to the lowest level since the end of Sept 2021, before Uptober, no more greed now.

From this, we should expect lesser volatility in the immediate future. 

ETH, which had run hotter than BTC since Uptober (driven by leverage) has also reset its open interest level to the lowest point since Sept 2021 and Feb 2022.

Overall, ETH open interest has dropped by ~50% since ATH levels in early Nov 2021.

Given the data from the past few months, it seems certain OI levels tend to be pretty predictive of potential corrections. Whenever OI elevates to these new heights, ETH is at risk of topping and correcting. Less volatility can be expected when Open Interest is low.