Bearish Indicator: Bitcoin Short Exposure Surge To New All-Time High
Large institutional investors have since been turning their attention to shorter-term investments. This tracks with retail sentiment following the price decline of bitcoin from the $30,000 territory. This has put the digital asset in a perilous position, and despite the recent recovery that saw BTC touch $25,000, bearish sentiment continues to be the order of the day, causing the inflows into short bitcoin to balloon over this time. Short Bitcoin Inflows Grow Short bitcoin inflows have been on the rise for a couple of months now. When the ProShares’ short bitcoin ETF had first launched....
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Bitcoin funding rates for the past two months have entered one of their worst streaks yet. During this time, there have been no positive funding rates, and the best that the market has seen has been funding rates at a neutral level. However, even now, reaching neutral levels have proved incredibly hard for funding rates, taking a deeper dive with each passing week. Funding Rates Remain Below Neutral The last time bitcoin funding rates had been in the neutral territory had been at the beginning of August. Since then, funding rates have consistently returned below neutral, with some....
Bitcoin’s short exposure has been gaining favor from both retail and institutional investors over the last couple of months. For most, this position in the digital asset has paid off, given its continued decline over this time. Even then, investors have not eased up in their exposure to this investment vehicle. The total assets under management for short bitcoin ETF are on the rise, sparking speculations of a potential short squeeze. Investors Increase Exposure When the ProShares Short Bitcoin ETF first debuted earlier in 2022, it came out with a lot of support from investors. These....
With each passing day, Cardano inches closer to one of its most important upgrades yet, the Vasil Hard Fork. IOG, the developer behind the Cardano network, had outlined three important milestones that the network needed to reach for the hard fork to be triggered. With the first of the three metrics already met at this time, the upgrade is closer than it has ever been, as confirmed by the developer. Nearing Cardano Hard Fork When the developer had previously confirmed that there were no longer any bugs in the Vasil hard fork, it had moved towards fulfilling the requirements for the upgrade....
The opening of the trading week had seen bitcoin surge again and had touched as high as $32,000, albeit briefly. This recovery had taken the market by surprise given that indicators were pointing toward more bearish trends. Nevertheless, the recovery was a welcome sight as it put bitcoin on a track to end its red […]
On-chain data shows the number of active Ethereum addresses has recently spiked up to a new all-time high. Here’s what happened in the past when the metric reached such high values. Ethereum Active Addresses Surge To A New All-Time High As pointed out by an analyst in a CryptoQuant post, a signal that has usually been bearish for the price of the crypto has gone off recently. The “active addresses” is an indicator that measures the total number of Ethereum wallet addresses that showed some movement on any given day. The metric takes into account both senders and....