According to Milk Road (@MilkRoadDaily), crypto bulls are showing signs of fatigue, indicating a slowdown in upward momentum for major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This observation is supported by recent trading volume data and declining open interest in BTC and ETH futures, signaling cautious sentiment among traders (source: Milk Road Twitter, June 19, 2025). Traders are advised to watch for potential short-term corrections and reduced volatility, as these signals often precede periods of consolidation in the crypto market.

According to CryptoQuant, Bitcoin options open interest surged by $2.2 billion in 24 hours, reaching $30.7 billion on April 22. This notable increase aligns with the rise in Bitcoin's price and futures open interest, indicating heightened market activity and potential bullish sentiment. Traders should monitor these metrics for signals of market trends and potential trading opportunities.

According to glassnode, the Futures Open Interest across the memecoins sector has seen a noteworthy decline. Specifically, $DOGE's Futures Open Interest 7-day moving average has decreased by 58.45%, dropping from $3.58 billion on December 9, 2024, to $1.49 billion as of today. This indicates a substantial reduction in trading interest and potential market liquidity for $DOGE, which could impact short-term trading strategies.