Bitcoin price hits $32K but derivatives metrics still show signs of weakness
Bitcoin price rallied 8.5% to recover the $32,000 level, but derivatives data shows pro traders still feel apprehensive. There's no doubt that the last couple of months have been bearish for Bitcoin (BTC), but throughout this entire period, derivatives indicators have been relatively neutral. This could be because cryptocurrencies have a strong track record of volatility, and even 55% corrections from all-time highs are expected.After two months of struggling to sustain the $30,000 support and finally losing it on July 20, the futures premium and options skew turned bearish. Even PlanB's....
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Afraid Bitcoin price might crash? These three key metrics help traders spot bullish and bearish sentiment in the crypto market. For the past week, Bitcoin (BTC) price has been flirting with the $20,000 mark, which has led some traders to lose their patience. In the eyes of some traders, the lack of bullish momentum is problematic, especially considering that BTC tested the $16,200 level roughly a week ago.Experienced traders know that there are key indicators that serve as telling signs of a trend reversal. These are volumes, the futures premium, and top traders' positions at major....
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