Pro traders added to shorts as Bitcoin price broke $12K, data shows
Bitcoin derivatives favor bulls but data shows top traders added to their short positions as BTC rallied above $12K. As Bitcoin (BTC) breaks the $12,000 resistance, derivatives markets are flirting with overly excessive bullish sentiment. The futures basis and the options 25% delta skew both reached the same levels seen now on October 12 when BTC briefly tested $11,700 but failed to maintain momentum.What differentiates the current situation from nine days ago is the positions of top crypto traders. On Oct. 12, these traders increased their longs, but during the recent move to $12,000....
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Bitcoin price is chasing another 2020 high but top traders refusing to open longs is a bearish signal. For novice traders, FOMO can be a heavy burden to bear. Resisting the urge to buy Bitcoin (BTC) after a nearly 15% rally, which saw the price break both the $12K and $13K levels in less than 24 hours, is almost impossible.Professional traders are more experienced and know precisely how to play these FOMO-inducing situations. As data has shown, they were mostly adding shorts up to October 20, right before the $12K rupture.BTC futures aggregate liquidations. Source: Coinalyze.netMost....
As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery. More Than 65,000 Traders Rekt As of Friday morning, data from Coinglass shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged....
Bitcoin is leaning toward the $40,000 level, but derivatives data shows traders are holding a neutral-to-bullish stance. The price of Bitcoin (BTC) is facing an intense period of volatility since moving from a $52,950 top on Sept. 7 to a $42,800 low just two hours later. More recently, the $45,000 support was held for a couple of days despite being heavily tested, and this triggered a $3,400 up- and down-swing on Sept. 13.There’s little doubt that shorts — traders betting on a price decrease — have taken the upper hand since the liquidation of $3.54 billion worth of long (buyers) futures....
Data shows pro traders opened new leveraged long positions even as Bitcoin price dropped to $45,000 and $5.9 billion in futures contracts were liquidated. In the past 48 hours, Bitcoin's (BTC) price has dropped by $13,360 and more than $2.6 billion worth of futures contracts have been liquidated. When including altcoins, the total sum of liquidations equaled $5.9 billion.After marking a record-high open interest at $19.5 billion on Feb. 21, the metric has stabilized at $16.5 billion. This means that half of the terminated leverage positions have been reopened.According to the top traders'....
The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of....