Bitcoin, Ethereum lose over the weekend: What’s next? Tradi | Crypto Push

Bitcoin, Ethereum lose over the weekend: What’s next?

Trading activity declines
Bitcoin has led the broader market rally over the last two months, driven by enthusiasm over the approval of spot ETF applications in the U.S. market.

Derivatives market also go quiet
Speculative interest in the king coin also started fading as the year drew to a close. The Open Interest (OI) in BTC futures dropped more than 9% from last week to $16.95 billion at press time, AMBCrypto observed using Coinglass data.

As we approach the holiday season, we can expect some dip in trading activity due to which the market may remain at current levels. The Bitcoin ETF approval clock is ticking and we can expect a crypto super cycle in 2024 once the final approval is achieved.