Breaking Down the Effect of Bitcoin’s $3,000 Drop on the Futures Market
Bitcoin has undergone a strong drop since peaking at $19,500 just days ago The coin currently trades at $17,000 as of this article’s writing Analysis compiled by Coinalyze found that over the course of the past few days, $1 billion worth of open interest has been wiped from leading Bitcoin futures exchanges This was accompanied How the Strong Bitcoin Drop Affected the Futures Market For BTC Bitcoin has undergone a strong drop since peaking at […]
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Bitcoin’s price is taking a breather after a Tesla-fueled rally, but where will the next move take it, and could a new ATH be established soon? The price of Bitcoin (BTC) achieved a new all-time high on Feb. 11 as it surpassed $48,500 across major exchanges. Since then, the dominant cryptocurrency has been consolidating, showing no real momentum to break out of the record-high in the near future. But analysts are not fazed by the consolidation after breaking past a new peak.Generally, market commentators say that when an asset moves slowly or consolidates after an explosive move upward, it....
Retail traders were rattled by Bitcoin’s $900 drop but BTC options data remains bullish ahead of Friday’s expiry. The $900 Bitcoin (BTC) price drop over the past two days might have been scary for novice traders, but those trading futures and options don't seem bothered. Cryptocurrency daily market performance snapshot. Source: Coin360As Bitcoin price rallied to $11,000 on Sept. 19, investors may have become overly excited as the price briefly broke an important resistance level. The steady rally lasted ten days and saw Bitcoin’s dominance rate rebound for a 15-month low and this had some....
Although CME’s Bitcoin futures trading products do not deal in actual Bitcoin, they indirectly affect the open market price. The price of one actual Bitcoin on the open crypto market, known as spot BTC, fluctuates based on a countless number of factors, such as trading volume, usage and adoption. However, other catalysts affect the asset in a roundabout manner. Cash-settled Bitcoin futures trading products from the Chicago Mercantile Exchange stand as one arguable highly referenced indirect element contributing to Bitcoin’s (BTC) price direction. “The Bitcoin derivative products offered by....
The cryptocurrency market saw over $500 million worth of positions liquidated in the last 24 hours as Bitcoin slid below $34,000. Roughly $500 million worth of cryptocurrency futures positions were liquidated in the past 24 hours. The mass liquidation of positions happened before the price of Bitcoin (BTC) dipped below $34,000 on Jan. 17.Bitcoin total liquidations. Source: Bybt.comWhy were so many positions liquidated?Overnight, the price of Bitcoin rose by 6.7% from $35,500 to nearly $38,000. Meanwhile, the futures funding rate sharply increased, indicating an overleveraged market.Across....
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