TechFlow reported on February 1 that according to Coindesk data, the annualized three-month and six-month PCE metrics (U.S. Core Personal Consumption Expenditures price index) have both fallen below the Federal Reserve's 2% target, reinforcing the possibility of another rate cut by the central bank. In the derivatives market, futures markets experienced a series of long position liquidations over the past 24 hours, with trading volume significantly increasing. Major cryptocurrencies such as BTC and ETH continue to dominate the market, with investors maintaining balanced exposure between long and short contracts.
For BTC contracts, the total open interest stood at $17.11 billion (-5.05%), with a 24-hour trading volume of $46.88 billion (+23.71%). The 24-hour liquidation volume was $45.44 million for longs and $13.66 million for shorts. The long/short ratio was 50.19%/49.81%.
For ETH contracts, the total open interest reached $7.51 billion (-4.58%), with a 24-hour trading volume of $19.67 billion (+7.53%). The 24-hour ETH liquidation volume was $42.44 million for longs and $6.33 million for shorts. The long/short ratio was 48.28%/51.72%.
The top three contracts with the largest increases in open interest were JUP—$32.7 million (+485,588.14%), RATS—$2.26 million (+65.92%), and RON—$9.56 million (+35.33%).
