Spot Markets, Not Leverage, Fuel Bitcoin’s Price Rally Amid Mild Derivative L...
Derivatives' role in bitcoin's rally is "muted" this time, said one trader.
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The Bitcoin market saw another rebound in the past week as prices leaped by over 12% to hit a local peak of $95,600. Amid the ongoing market euphoria, prominent blockchain analytics company Glassnode has shared some important developments in the Bitcoin derivative markets. Related Reading: Bitcoin ‘Apparent Demand’ Makes Sharp Rebound – Will BTC Breakout Soon? Bitcoin Short Bets Rise Despite Price Rally, Setting Stage For Volatility Despite a bullish trading week, derivative traders are approaching the Bitcoin market with skepticism, as evidenced by a build-up of leveraged short positions.....
On-chain data shows whales are sending their Bitcoin from spot exchanges to derivatives, indicating that they are building up their positions. Bitcoin Whales Build Up Their Positions On Derivative Exchanges As pointed out by a CryptoQuant post, Bitcoin whales seem to be moving their crypto from spot exchanges to derivative exchanges. The relevant indicator here is the “all exchanges to derivative exchanges flow mean,” which shows the total amount of coins being transferred from spot exchanges to derivative exchanges. When the value of this metric shows continuous high values,....
Bitcoin spot to derivatives exchange flow has surged up recently, something that has preceded local bottoms for the crypto in the past. Bitcoin All Exchanges To Derivative Exchange Flow Observes Uplift As pointed out by an analyst in a CryptoQuant post, whales have been moving their coins into derivative exchanges recently. The relevant indicator here […]
Bitcoin’s price has declined slightly following recent gains, falling 2.3% over the past 24 hours to trade at approximately $107,205. This latest movement places the asset 4.1% below its all-time high of over $111,000 recorded last month. Despite the short-term dip, some analysts see familiar signs in derivatives data that could point to the next phase of market movement. Related Reading: Why Bitcoin’s Calm Rally Could Be a Setup for a Massive Breakout, Analyst Reveals Funding Rate Rebounds Signal Potential Upside for Bitcoin According to recent insights shared by on-chain analyst....
Ethereum has plunged below $1.3k today, but the decline may not be over quite just yet as on-chain data shows selling pressure continues to rise in the market. Ethereum Exchange Inflows Have Continued To Go Up During The Past Day As pointed out by an analyst in a CryptoQuant post, the ETH derivative and spot exchange inflows are both still on the rise. The “exchange inflow” is an indicator that measures the total amount of Ethereum entering into the wallets of centralized exchanges. There are two versions of this metric, the first notes the inflows specifically going to....