Bitcoin price falls under $19K as data shows pro traders avoiding leverage longs
BTC nose-dived to its lowest level since July 13, but data shows pro traders remain skeptical of a quick recovery. An $860 surprise price correction on Sept. 6 took Bitcoin (BTC) from $19,820 to $18,960 in less than two hours. The movement caused $74 million in Bitcoin futures liquidations at derivatives exchanges, the largest in almost three weeks. The current $18,733 level is the lowest since July 13 and marks a 24% correction from the rally to $25,000 on Aug. 15.Bitcoin/USD 30-min price. Source: TradingViewIt is worth highlighting that a 2% pump toward $20,200 happened in the early....
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Derivatives data shows Bitcoin whales added to their leveraged positions after BTC price topped out at $42,600. Bitcoin (BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco, KSA's largest oil exporter, denied claiming to start mining Bitcoin.Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders....
Ethereum price appears en-route to a new all-time high, but data shows retail and pro investors are slightly skeptical about the current rally. Today Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets.Ether ETH/USD price at Bitstamp. Source: TradingViewWhile it is possible to draw a descending channel that shows support at $3,960, today's 5.4% positive move seems....
Multiple factors are pushing BTC price below $40,000, but derivatives data shows pro traders are neutral, and holding out hope for a quick trend reversal. On April 11, Bitcoin (BTC) dropped to $40,500, reaching a crucial level that erased the gains from the previous three weeks when the price peaked at $48,200 on March 28.According to analysts, the United States Federal Reserve balance sheet reductions are adding pressure to stocks and risk assets, with Bitcoin standing to lose appeal.Decentrader co-founder filbfilb agreed with these powerful headwinds by arguing that the Fed's action....
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....
The funding rate for MATIC and AAVE is currently rewarding traders who are leveraged longs, but it might not last for long. Data shows that AAVE and Polygon (MATIC) traders are currently being paid up to 4.3% per week to long future contracts.In the crypto markets, traders are usually bullish, or at least the majority of retail investors are. This causes an interesting phenomenon as it incentives arbitrage desks and whales to sell futures contracts while simultaneously buying on regular spot exchanges.Crypto total market capitalization, USD billion. Source: TradingViewThe above chart shows....