Bitcoin price surges, but derivatives metrics reflect pro trader’s neutral se...
BTC and ETH prices are in a clear bull trend, but derivatives data shows pro traders haven’t turned into bulls just yet. As Bitcoin (BTC) finally broke out of the $46,000 resistance on March 27, traders were quick to conclude that the bearish trend was gone for good. Even as the price hit its highest level in 84 days, derivatives metrics and Asia’s Tether premium still show a lack of bullish sentiment.While analysts will struggle to find a rationale for the modest 5.8% 24-hour gain that pushed Bitcoin above $48,500, we still have to account for the daily 3.8% average volatility. For....
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ETH might have rallied 35% off its $1,750 low but derivatives data shows pro traders are not so bullish. Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn't been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no....
Key Bitcoin price metrics show the recent 12% drop to $30,800 has not stopped traders from buying dips ahead of this Friday's $4.9 billion BTC futures expiry. Over the last 48 hours, Bitcoin (BTC) price climbed from $31,000 to $34,800 before reversing course and dropping the majority of these gains. While this $3,800 shift to the downside might not seem significant, the 12% oscillation liquidated $660 million worth of futures contracts.While it’s unlikely that there will ever be a definitive answer behind the move, on Jan. 25, President Joe Biden voiced his willingness to lower the $1.9....
After correcting 15%, Bitcoin price dropped to $30,000 but derivatives indicators suggest pro traders are buying the dip. In the last 24-hours Bitcoin (BTC) price dropped 14% and tested the $32,000 support for the fifth time this year. Traders probably became even more worried as the price fell to $31,050 but at the time of writing the 4-hour chart suggests that the selling could be slowing down. Currently the shorter-term charts indicate that Bitcoin is still flirting with bearish territory but a number of derivatives indicators and the top traders flow reflect neutral to bullish....
Phemex, the fastest cryptocurrency exchange, is calling global crypto traders for another contest – The Phemex Trader’s Arena. Here’s how Phemex is combining eSports-like team tournaments with high-speed cryptocurrency trading for an exciting and unprecedented trading challenge with up to $2 million in prizes. The Phemex Trader’s Arena: What You Need To Know Phemex is home to some of the world’s best traders who seek unrivaled cryptocurrency trading speeds. Folks demanding such high levels of […]
While the price of bitcoin has spiked to levels not seen in three years a number of other factors show that the current run-up is similar to the 2017 bull run. Active bitcoin addresses have neared all-time record highs, while the network’s hashpower has remained high as well coasting along at 130 exahash. Moreover, bitcoin derivatives markets have crossed record levels as well as open interest in options, and futures have never been so high. Following a 1,079 day wait, on November 30, 2020, BTC broke its record price high that was recorded in mid-December 2017. Since then, BTC has....