Market analysis

Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low

Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million. In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call …

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Top traders go long after Bitcoin price rallies to key $11.5K resistance

On Oct. 7 Cointelegraph reported that top crypto traders had kept a bearish stance since mid-September and at the time the Bitcoin (BTC) long-to-short ratio had reached its lowest level in 10 weeks. All of this changed in a matter of hours as soon as BTC broke through the $11,000 resistance. Whenever Bitcoin’s volatility gets …

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Ethereum miners made 450K ETH from high network fees during DeFi peak

Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees.  Miners took home 450,089 ETH in fees ($168.7 million) and this …

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Lagging Bitcoin futures premium shows BitMEX is losing investor trust

For BitMEX, 2020 has been quite a rough year and from the look of things it’s only set to get worse.  The popular derivatives exchange is no longer as relevant and impactful on crypto market price action as it was 2 years ago, but a significant short-term price correlation among top exchanges has been proven …

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Why traders expect ‘boring’ Bitcoin and altcoin price action until 2021

Bitcoin (BTC) price has been stuck in a range for weeks now but traders generally expect a slow fourth quarter for the top-ranked digital asset. Bitcoin quarterly returns (%). Source: Skew.com In 2018 and 2019 Q4 closed net negative, injecting a bit of bearish sentiment into the market. In the near term, a boring Q4 …

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COVID-19, Trump, KuCoin, BitMEX: Bitcoin price says keep calm and carry on

Bitcoin (BTC) price appears on the verge of closing another week pinned below the $11,000 resistance but given the major events of the week, things could have been so much worse.  Cryptocurrency daily market performance snapshot. Source: Coin360 The top-ranked cryptocurrency by market cap held its ground as KuCoin revealed more than $150 million worth …

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What BitMEX scandal? Bitcoin futures data shows traders focused on $12K

BitMEX used to be the indisputable leader of Bitcoin (BTC) futures trading and if something similar to yesterday’s civil enforcement action were to happen back in 2015-2018 the crypto markets would have completely collapsed. Regardless of partial recovery to $10,600, which was relatively quick, derivatives markets held steady during the $500 drop down to $10,400. …

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Bitcoin vs. USD: why only a weaker dollar will push BTC above $20,000

A widespread debate among investors is the correlation of Bitcoin (BTC) with other markets. A high degree of correlation between the equity markets and Bitcoin has existed, particularly in the last few months. In other periods, gold and Bitcoin appear to move in tandem. However, the correlation that should be watched the most is the …

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Bears reign as 86% of September’s $284M CME Bitcoin options are worthless

As of now, the $622 million total open interest for BTC futures expiry on Friday seems quite relevant.  This Friday, a total of $100 million in CME Bitcoin (BTC) options are set to expire. 58% of these are call (buy) options, meaning buyers can acquire BTC futures at a fixed price. As the expiry draws …

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Bitcoin options still bullish despite this week’s $900 BTC price drop

The $900 Bitcoin (BTC) price drop over the past two days might have been scary for novice traders, but those trading futures and options don’t seem bothered.  Cryptocurrency daily market performance snapshot. Source: Coin360 As Bitcoin price rallied to $11,000 on Sept. 19, investors may have become overly excited as the price briefly broke an …

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