• Latest
  • Trending
Bitcoin Futures Heating Up, Why BTC Should See Volatility

Bitcoin Futures Heating Up, Why BTC Should See Volatility

October 26, 2021
PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

March 17, 2023
$170K of Stolen Ethereum Traced to North Korean Hackers

$170K of Stolen Ethereum Traced to North Korean Hackers

March 17, 2023
Web3 Offers a Cure to Toxic Pop Culture

Web3 Offers a Cure to Toxic Pop Culture

March 17, 2023
Metacade’s Presale Hits $10.9m in April 2023. 5 Reasons MCADE Tokens Are The Best Investments Today.

Metacade’s Presale Hits $10.9m in April 2023. 5 Reasons MCADE Tokens Are The Best Investments Today.

March 17, 2023
BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB

BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB

March 17, 2023
Silicon Valley Bank’s Bankruptcy: 100% guaranteed no Bailout because of the Dodd-Frank Act. | by Patrick Mehrhoff | The Capital Platform | Mar, 2023

Silicon Valley Bank’s Bankruptcy: 100% guaranteed no Bailout because of the Dodd-Frank Act. | by Patrick Mehrhoff | The Capital Platform | Mar, 2023

March 17, 2023
DOGE Price Analysis for March 17

DOGE Price Analysis for March 17

March 17, 2023
First Mover Americas: Bitcoin Busts Through $26K

First Mover Americas: Bitcoin Busts Through $26K

March 17, 2023
BitValue announced the Investment in Spield Algorithm, which is Shaping the Future of AI Quantitative Analysis

Stablz Launches Cannavest pools, with 30% APR on USDT deposits!

March 17, 2023
  • Privacy Policy
Friday, March 17, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto

Bitcoin Futures Heating Up, Why BTC Should See Volatility

J_News by J_News
October 26, 2021
in Crypto, Top News
0
Bitcoin Futures Heating Up, Why BTC Should See Volatility
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter


Bitcoin has been moving sideways during the day as it was rejected north of $63,000. As of press time, BTC’s price trades at $62,698 with a 1% profit in the weekly chart.

BTC moving sideways in the daily chart. Source: BTCUSD Tradingview

However, Bitcoin could see some action in the short term. The benchmark crypto has been rallying on the back of an increase in institutional demand and the launch of the first BTC-linked ETFs in the U.S.

Related Reading | Why Bitcoin Needs To Clear $64K For Hopes of a Fresh Rally

As a consequence, Bitcoin went from the lows at $40,000 to a new all-time high in less than a week. This caused a FOMO effect most notoriously visible in the derivatives sector.

As CryptoQuant showed, the amount of leverage positions in this sector has been on the rise since the end of September. Moving to a year high with BTC’s price, the leverage ratio points to an excess which could be reflected on the price action.

Bitcoin BTC BTCUSD
Source: CryptoQuant via Twitter

The CEO of CryptoQuant Ki Young Ju believes this excess in leverage is caused by new players, as it is has happened historically when Bitcoin enters price discovery. Usually, the market reacts with a sudden move to the opposite direction of the majority of the overleverage position.

Related Reading | Brace For Impact: Wall Street Is Headed Straight For Bitcoin, Says Analyst

Whales and other major players try to shake out these new traders and take advantage of the liquidity in the market to make their own moves. In response to the possibility of the current high leverage in Bitcoin futures been driven by Chicago Mercantile Exchange (CME) futures Open Interest, Young Ju clarified:

This data doesn’t take into account CME futures. I think CME users are new players joining this industry, which indicates the market is over-leveraged by *existing* investors who are using crypto exchanges. Folks who use CME might not have over-leveraged positions.

New BTC ETFs, Same Bitcoin Price Action

The recently launched Bitcoin ETF are backed by CME futures. Therefore, some expects believe the platform could gain more relevance in the future and have a bigger impact in BTC’s price.

In case of volatility, Bitcoin could find critical support at $60,000, as $840 million in futures contracts were purchased when BTC’s price was hitting this mark, Young Ju said.

Bitcoin BTC BTCUSD
Source: CryptoQuant via Twitter

As noted by research firm Glassnode, the OI for the CME futures has increased by over 265% in just a month. This points towards a moment of euphoria which has favored the bears over the past months.

Related Reading | Bitcoin Funding Rates Touch Same Level As Early September, More Correction To Come?

However, the general sentiment around Bitcoin remains positive as Glassnode reported. This demonstrated by the amount of long-term investors that have stopped taking profits during BTC’s most recent price rally.





Source link

Related articles

PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

March 17, 2023
$170K of Stolen Ethereum Traced to North Korean Hackers

$170K of Stolen Ethereum Traced to North Korean Hackers

March 17, 2023
ShareTweetShareShare
Previous Post

Nigeria Central Bank Governor Reports ‘Overwhelming Interest’ for its Newly Launched CBDC eNaira

Next Post

4000 Users Signed Up to Bid for Germany’s Seized Bitcoin Auction

Related Posts

PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

PREMA is introducing a “Web3 SNS” system to enhance the Web3 social networking and gaming experience

by J_News
March 17, 2023
0

PREMA is an NFT-integrated application platform based on Web 3.0 network, focusing on the sale, trading, and practical application of...

$170K of Stolen Ethereum Traced to North Korean Hackers

$170K of Stolen Ethereum Traced to North Korean Hackers

by J_News
March 17, 2023
0

Alex Dovbnya Blockchain analytics firm Chainalysis has identified a North Korean-linked address that received approximately $170,000 worth of Ethereum stolen...

Web3 Offers a Cure to Toxic Pop Culture

Web3 Offers a Cure to Toxic Pop Culture

by J_News
March 17, 2023
0

A meaningful future of fandom in Web3 can mean many things: a culture of loyalty, financial freedom, collective ideals and...

Metacade’s Presale Hits $10.9m in April 2023. 5 Reasons MCADE Tokens Are The Best Investments Today.

Metacade’s Presale Hits $10.9m in April 2023. 5 Reasons MCADE Tokens Are The Best Investments Today.

by J_News
March 17, 2023
0

Newcomer Metacade has made a huge splash since appearing on the crypto scene, establishing itself as a high-potential investment opportunity...

BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB

BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB

by J_News
March 17, 2023
0

After a recovery on March 16, the United States equities markets are again down on March 17. Investors remain concerned...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

The 7 Best New ICOs To Buy in 2023

Crypto Narratives to look out for in 2023 | by Blockchain Jew | The Capital Platform | Feb, 2023

New York Attorney General sues CoinEx over failure to register

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT