BERA Surges 14% Despite Capital Outflows
The Most Important Points at a Glance
The altcoin Berachain (BERA) recorded a 14% price increase in the last 24 hours despite significant capital outflows. While spot and derivatives traders are accumulating BERA, traders on OKX remain skeptical and continue to bet on falling prices.
Capital Outflows and Rising Buying Activity
Over the past week, $19.4 million was withdrawn from the Berachain blockchain. Such a high outflow usually indicates negative market sentiment. Nevertheless, the BERA price increased as spot traders started purchasing larger amounts. In the last three days, $2.8 million was invested in BERA, suggesting a potential trend reversal.
Derivatives Traders Drive the Price Increase
In the derivatives market, interest in BERA is also rising. Open interest, which represents the total value of open derivatives positions, surged by 202.2% in the last 24 hours to $136.79 million. This indicates increased trading activity. Additionally, trading volume rose by 262% to $595 million.
Another indicator of bullish market sentiment is the liquidation of short positions. Traders who had bet on falling prices lost a total of $769,000 as the market moved against them. Such liquidations often reinforce an asset’s upward movement.
OKX Traders Remain Skeptical
Despite the positive developments in the broader market, sentiment on the crypto exchange OKX remains negative. The long-to-short ratio there is 0.76, meaning more traders are betting on falling prices than rising ones. If selling pressure on OKX continues, it could slow down BERA’s further price increase.
Our Assessment
The recent price increase of BERA despite high capital outflows indicates growing interest in the token. Particularly, the rising activity in the derivatives market could lead to further price gains. However, the risk remains that selling pressure on OKX may prevent a sustainable rally. Investors should closely monitor market sentiment before making a decision.
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