Wen moon? Data shows pro traders becoming more bullish on Bitcoin price

Wen moon? Data shows pro traders becoming more bullish on Bitcoin price

MicroStrategy’s purchase of 7,002 BTC might have helped boost Bitcoin price today, but derivatives data also shows that pro traders are becoming more bullish. The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics. This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction.Today’s trend reversal was possibly encouraged by....


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Key Bitcoin and Ethereum options metrics show traders are wildly bullish

Ethereum price is now the center of attention but options data shows pro traders are still wildly bullish on Bitcoin price. In the last few days, Bitcoin (BTC) price has underperformed Ether (ETH) by almost 20%. Even though BTC seems to be struggling to break the $18,800 barrier, both cryptocurrencies display the same bullishness according to derivatives markets data.BTC/USD and ETH/USD at Bitstamp. Source: Digital Assets DataEther is entering a parabolic rally as its Eth2 network launch progresses, and this optimism is reflected in the options markets. Despite the lack of similar price....

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