Binance Futures Trend: Ethereum May Soon Pop Higher After 30% Drop
Ethereum may be poised to move higher after dropping 30% from last month’s highs. Futures data shows that investors are currently bearish on the cryptocurrency, which should lend to a potential short squeeze. Ethereum Could Soon Surge to the Upside: Futures Trend Crucial futures data suggests that Ethereum may soon revert to the upside, not move lower. One crypto-asset analyst recently shared the data below, which shows the positioning of ETH futures traders on Binance. […]
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Ethereum has dropped around 30% from its recent year-to-date highs after the U.S. dollar underwent a bounce. The leading cryptocurrency currently trades for $370, $120 shy of the $490 highs, but fell as low as $315. Ethereum remains in a positive state on a macro time frame, analysts say. One trader, a leading trader on Binance’s futures platform, expects the cryptocurrency to soon enter a parabolic uptrend. His assertion has been echoed by another top […]
Data shows the XRP Open Interest on cryptocurrency exchange Binance has seen a significant drop recently, a sign traders are repositioning. XRP Binance Open Interest Has Dropped To $1.1 Billion As pointed out by an analyst in a CryptoQuant Quicktake post, XRP traders on Binance have closed off futures market positions recently. The indicator of […]
After struggling with bearish action for several days, Bitcoin is finally finding stability once again above the $111,000 price level. Even with the downward trend, the crypto king has demonstrated a remarkable performance in its futures volume on the Binance exchange, which has risen sharply to unprecedented levels. Binance Bitcoin Futures Hit New Milestone Bitcoin’s […]
Ethereum trends show it’s becoming more valuable as ETH 2.0 draws near. Thus, institutional investors are clamoring to get in on the action before it is too late. A signal for this has been ETH Futures have been trading at a higher basis premium than BTC Futures on CME. ETH Futures have continuously traded at a higher rolling basis than BTC Futures for the past three months. This could show that institutional investors are more bullish on ETH’s future in comparison to BTC. But other factors have also led to the ETH Futures trading so high. Related Reading | Ethereum Fee Burns Clocks....
Bitcoin and Ethereum fell 15% and 20%, respectively, in one day, but why so much and so quickly? The price of Bitcoin (BTC) and Ether (ETH) fell by 15% and 20%, respectively, on April 23 as the cryptocurrency market became engulfed in a major correction. Five factors likely caused the price of Bitcoin and Ethereum to steeply drop in a single day include mass liquidation, an overheated futures market, the decline of Kimchi premium, whales selling, and Biden tax concerns. Overcrowded futures market sees $4B worth of liquidations On April 23, in a 24-hour span, the cryptocurrency market saw....