Bitcoin derivatives data reflects traders’ belief that $20K will become support
Declining interest in margin shorts and a balanced risk perception in options markets highlight a possible path to $21,500 for BTC price. Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000.$BTC #Bitcoin Shared this descending channel 2 days ago.$BTC has managed to break through the middle line. Next target = Upper channel trendline = ~21.5k. In case of a breakout, 28k-30k are possible.....
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Derivatives data shows increased demand for margin longs, contradicting traders’ perception that further downside is in store for Bitcoin. Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second-largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub-$17,000 levels were last seen almost two years prior, and the fear of contagion became evident.The move liquidated $285 million worth of leverage long (bull) positions, leading some traders to predict a potential downside of $13,800.What an exciting....
Analyzing bitcoin derivatives data makes it clear that market participants are cautious in this period of uncertainty.
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Traders wound up their long Bitcoin derivatives contracts ahead of the October price rally, ignoring solid on-chain fundamentals. Bitcoin (BTC) derivatives traders on the Chicago Mercantile Exchange (CME) missed out on incredible profits as BTC’s spot price smashed through $55,000 this week.Retail investors reduced their long exposure across the Bitcoin futures and options markets in late September, according to data shared by Ecoinometrics. The amount of open short positions also climbed, indicating that derivative traders anticipated Bitcoin’s price to drop, as shown in the chart....
The ETH futures premium turned bearish and the network's TVL dropped 22% from its peak, but how is this impacting pro traders’ sentiment? Ether (ETH) lost the critical $3,000 psychological support level on April 11 after a 16% weekly negative performance. Bulls were definitively caught by surprise as $104 million in leveraged long futures got liquidated on April 11. Ether's downturn also followed a decline in the total value locked (TVL) in Ethereum smart contracts. Ethereum network TVL in ETH. Source: Defi LlamaThe metric peaked at 40.6 million Ether on Jan. 27, and has since dropped by....