Bitcoin’s rebound from this week’s flash crash re-set key price metrics and paved a path for BTC to chase after the $115,000 level.
Crypto exchanges clocked more than $10 trillion in volume across spot and derivatives markets, CCData said.
Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of "overheating."
As Bitcoin prices soared following the election, big banks are reportedly accruing $1.4 billion from futures contracts.
Bitcoin has shattered its all-time highs once again, reaching a new peak of $79,780. This marks the fourth time in just five days that BTC has set a record high, firmly establishing a bullish phase that began when it broke its previous all-time high in March. Market optimism surged following Donald Trump’s recent victory in […]
Bitcoin’s price rejection at $68,500 and the record high use of leverage could be signs that BTC is in for a sharp correction.
With dozens of layer-1 blockchains on the market, communication between networks has become a significant pain point for the broader adoption of Web3-based applications.
If Donald Trump wins the United States presidential elections in November, the trend could accelerate, according to the report.
Crypto market capitalization dropped 5% on average as Middle East tensions flared up late Monday, denting growth in risk assets.
Bitcoin leveraged positions increased over the past week, and a portion of these late longs have been wiped out as BTC price dropped closer to $65,000.
Open interest is often used to gauge the interest and liquidity behind an asset. In Bitcoin’s case, the surge in open interest could signal an imminent breakout.
Data shows the Bitcoin futures-to-spot trading volume ratio has decreased by 63% since the peak of the last bull market. Here’s what it means. Bitcoin Futures Market Occupying Lower Volume Share This Rally As explained by CryptoQuant founder and CEO Ki Young Ju in a new post on X, the BTC market has appeared to […]
While the usual volatility has been absent from the derivatives market, the slight fluctuations seen in the past few days still managed to reveal subtle market trends. Between June 12 and June 14, Bitcoin options open interest increased $20.85 billion on June 12 to $21.91 billion on June 13, before decreasing to $21.42 billion on […]
The post Calls dominate Bitcoin options despite price drop and ETF outflows appeared first on CryptoSlate.
At spot rates, Bitcoin is firm, but traders doubt the uptrend following the unexpected dump on June 11. Currently, Bitcoin is stable, trending above $67,000 and down despite gains on June 12. Still, even at this level, there are concerns because the coin, despite all the confidence across the board, remains below $72,000. This reaction line is emerging as a key liquidation area. If broken, BTC could unleash a wave of short liquidation, accelerating the lift-off to $74,000 and beyond. Will Bitcoin Demand Soar In Spot Markets? Taking to X, one on-chain analyst said that Bitcoin is stagnating at spot levels below $72,000 because hedge funds are short on futures. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Though this has been a known development for a while, hedge funds have stacked their BTC shorts via the Chicago Mercantile Exchange (CME) by over $1 billion in the last week alone. Therefore, the analyst says two things must happen to reverse this effect and support prices. Although the BTC shorting on CME is not necessarily a bearish signal, hedge funds are hedging by playing a sophisticated arbitrate strategy, and coin holders must look at fundamentals. Hedge funds are simultaneously shorting BTC futures on CME and buying on the spot market. Therefore, for the coin to break $72,000 and pierce $74,000, the analyst said users must buy at least 2X the amount of BTC futures shorted in the spot market. BTC Prices Must Fall For Short Sellers To Exit If there is no incentive to lift spot prices higher, then Bitcoin prices must fall. Falling prices will encourage short sellers, in this case, the hedge funds, to exit their positions lest they continue paying funding rates. In a bearish market, and when futures prices begin to fall, short sellers must pay longs for the index not to deviate. Whether there will be a spike in demand in the spot market remains to be seen. However, what’s evident is that institutional interest in Bitcoin is there, only that hedge funds, as seen from their arbitrage trade using CME, want to profit, regardless of price movements. Related Reading: Dogecoin Under Pressure And ‘Going To Zero’, Analyst Says – Here’s Why The analyst also shared another chart to solidify the bullish outlook. The trader used the “Growth Rate” metric to compare changes in Bitcoin’s market and realized cap. Currently, the metric is at around 0.001, way below 0.002, meaning the market is highly likely overheated. Bulls might be preparing to make a comeback. Feature image from DALLE, chart from TradingView
Bitcoin regained the $66,000 level in the night between May 15 and May 16, recovering some of the losses it incurred in the past week. This spike substantially impacted the derivatives market, significantly influencing both open interest and trading volume. Futures open interest, which indicates the total value of outstanding futures contracts yet to be settled, […]
The post Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k appeared first on CryptoSlate.
Data shows the Bitcoin Open Interest has observed a notable cool off recently, something that could be positive for the rally’s hopes. Bitcoin Open Interest Has Cooled Down From Recent Overheated Levels As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin Open Interest has registered a retrace recently. The “Open Interest” here […]
Crypto traders expect the upcoming halving to send BTC price much higher, but what does the options market say about pro traders' expectations?
Record-long positive Bitcoin futures funding rates signal “strong bullish sentiment” which can often precede price corrections, says on-chain analytics firm CryptoQuant.
A quant has explained that Bitcoin could end up seeing an extended drawdown if the past pattern in the Open Interest ends up repeating. Bitcoin Open Interest Has Shown Similar Trajectory To November 2021 Recently In a CryptoQuant Quicktake post, an analyst talked about the recent trend in the Bitcoin Open Interest. The “Open Interest” […]
Data shows that around $533 million in crypto long contracts have been flushed down as Bitcoin crashed below the $63,000 level. Bitcoin Has Continued Its Recent Downtrend During The Past Day Since setting a new all-time high (ATH) above the $73,800 mark, Bitcoin’s fates have changed as the digital asset has switched to experiencing bearish […]
Bitcoin’s futures market is showcasing signs that have historically signalled bullish sentiment. Analysts are turning their attention to the Bitcoin futures basis—a metric representing the differential between the futures price of Bitcoin and its spot price. Recent data has revealed that this basis has escalated to unprecedented levels since Bitcoin’s all-time high of $69,000 in November 2021. Related Reading: Bitcoin’s 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By Q4 Bullish Indications From Bitcoin Futures Deribit’s Chief Commercial Officer, Luuk Strijers, has highlighted the current state of the Bitcoin futures basis, which ranges between 18% to 25% annually, a rate reminiscent of the market conditions in 2021. According to Strijers’s comment, this elevated basis is not just a number but a lucrative opportunity for derivatives traders. By engaging in trades that involve buying Bitcoin in the spot market and simultaneously selling futures contracts at a premium, traders can secure a “dollar gain” that will materialize at the contract’s expiry, irrespective of Bitcoin’s price volatility. Strijers further noted that this strategy is particularly appealing in the current climate, fueled by the influx of new investments following the approval of Bitcoin ETFs and anticipation surrounding the Bitcoin halving event. The significance of the heightened futures basis extends beyond the mechanics of derivatives trading. It further reflects broader market optimism, “bolstered” by recent regulatory approvals and macroeconomic factors influencing cryptocurrency. The disparity between Bitcoin’s spot and futures prices suggests a confident market outlook, propelled by the anticipation of continued investment inflows and the impact of the upcoming Bitcoin halving. Such conditions create a fertile ground for Bitcoin’s value to surge, as historical precedents have often linked bullish futures basis rates with periods of substantial price appreciation. Market Sentiment And Halving Cycles While Bitcoin’s current market performance exhibits a bearish trajectory, with a 3.9% dip bringing its price to $68,203, market analysts advise against interpreting this as a negative signal. Rekt Capital, a respected figure in crypto analysis, views the recent price correction as a “positive adjustment” preceding the much-anticipated Bitcoin halving in April. Halving events, which reduce the block reward for miners, thus slowing the rate of new Bitcoin entering circulation, have traditionally catalyzed significant price rallies due to the resulting supply constraints. Rekt Capital’s analysis parallels current market movements and historical patterns observed in previous halving cycles. Related Reading: The $69,000 Bitcoin Question: Expert Forecasts When Price Will Breakout According to the analyst, despite the swift pace of these cycles, they exhibit a consistent sequence of a pre-halving rally followed by a retracement phase—both of which align with Bitcoin’s current trajectory. This cyclical perspective suggests that the recent dip is merely a temporary setback, setting the stage for the next bullish phase post-halving. #BTC Though there are signs of BTC experiencing an Accelerated Cycle… History still continues to repeat, nonetheless$BTC broke out into a “Pre-Halving Rally” right on schedule And now, #Bitcoin is transitioning into its “Pre-Halving Retrace” right on schedule#Crypto https://t.co/Egqxs9ritl pic.twitter.com/lj0IdQtBEE — Rekt Capital (@rektcapital) March 15, 2024 Featured image from Unsplash, Chart from TradingView
Bitcoin’s massive surge upward saw more than $268 million in shorts liquidated throughout the wider crypto market.
The total derivatives trading volume on CME rose 35% in January to $94.9 billion, the highest since October 2021.
Expectations that U.S. regulators will approve spot bitcoin ETFs next year are driving prices higher. History suggests we might see a slowdown as we approach the halving in April 2024, says Path Crypto's David Liang.