Bitcoin price metrics point to more upside despite $92K acting as resistance

November 18, 2024 Coin Telegraph

Bitcoin price metrics point to more upside despite K acting as resistance

Arbitrage

Data hints that new all-time highs are on the way, even if Bitcoin struggles to gain above $92,000.

Bitcoin (BTC) has been trading within a narrow 7% range since Nov. 12, signaling a period of consolidation around $91,000. Still, derivatives indicate that professional traders remain confident in the bull market. Additionally, multiple attempts to break above the $92,000 level suggest strong buying demand beyond the multiple MicroStrategy BTC acquisitions.

Bitcoin 30-day options 25% skew (put-call) at Deribit. Source: Laevitas.ch

The BTC options delta skew has dropped to its lowest level in four months, indicating the market is pricing a discount for put (sell) options. Levels below -6% suggest bullish sentiment and reflect confidence in the $87,000 support level, particularly from whales and arbitrage desks.

<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

3 reasons why Bitcoin price bottom could have been $67.3K

November 4, 2024 Coin Telegraph

3 reasons why Bitcoin price bottom could have been .3K

Bullish

Data suggests traders are ignoring the current Bitcoin price correction and betting for new highs after the US elections wrap up.

Bitcoin (BTC) fell 6.7% between Oct. 31 and Nov. 4, breaking below the $67,500 mark for the first time in eight days. This decline led to the liquidation of over $190 million in leveraged long positions and coincided with uncertainty surrounding the Nov. 5 US presidential elections.

Despite this short-term bearish momentum, three Bitcoin derivatives metrics show that the market is not panicking. These positive indicators include the long-to-short ratio of top traders on exchanges, aggregate BTC futures open interest, and stablecoin demand in China.

Exchanges top traders long-to-short ratio. Source: Coinglass

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin price peels back from its weekly high, but BTC derivatives markets look good

November 2, 2024 Coin Telegraph

Coin Telegraph

Wider economic and stock market-related issues are impacting Bitcoin’s softening price, but futures market data shows traders still feel bullish.

Bitcoin’s (BTC) price momentum has cooled since the Oct. 29 rally toward the all-time high, but the derivatives market continues to project traders’ optimism in a price recovery.

The analysis of Bitcoin futures and options markets suggests that traders are maintaining positions without excessive leverage, which is crucial for a sustainable push toward new all-time highs. However, understanding the trigger for Bitcoin's price drop to below $69,000 on Nov. 1 remains essential.

Bitcoin 1-month options delta skew, put-call. Source: Laevitas.ch

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin open interest exceeds $40B amid brush near $70K

October 21, 2024 Coin Telegraph

Bitcoin

High open interest signals more leverage, which could induce another flush-out if positions are liquidated.

Open interest on Bitcoin derivatives reached a record high on Oct. 21, as BTC came close to breaching the $70,000 price point.

In a post on X on Oct. 21, CoinGlass reported that Open Interest (OI) on Bitcoin (BTC) futures contracts had reached a record high of $40.5 billion.

Open interest is the value or number of outstanding futures contracts that have yet to expire. It measures the amount of money invested in Bitcoin derivatives at any given time, with higher OI indicating potentially more leverage and volatility in the system.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Is Microstrategy’s Bitcoin Leverage a Bigger Threat Than FTX? Vinny Lingham Suggests It’s Possible

October 17, 2024 Bitcoin.com

Bitcoin

Earlier this week, the well-known entrepreneur and investor Vinny Lingham, originally from South Africa but now based in the U.S., sparked a conversation on X by sharing his thoughts about Microstrategy. This company holds an enormous amount of bitcoin on its balance sheet. Lingham suggested that Microstrategy could potentially cause harm to bitcoin, possibly even […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

$2,423,000,000,000 in Wall Street Leverage Fueled by JPMorgan Chase, Wells Fargo, Bank of America and Other ‘Too Big To Fail’ Banks: Report

September 27, 2024 The Daily Hodl

Bank of America

JPMorgan Chase, Wells Fargo, Bank of America and other systemically important US banks are now financing $2.423 trillion in leveraged bets on Wall Street, according to new numbers self-reported by the industry. The Financial Industry Regulatory Authority (FINRA) says the big banks’ total margin loans to hedge funds have hit a new record high, according […]

The post $2,423,000,000,000 in Wall Street Leverage Fueled by JPMorgan Chase, Wells Fargo, Bank of America and Other ‘Too Big To Fail’ Banks: Report appeared first on The Daily Hodl.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Does Bitcoin’s negative funding rate signal that bears are in total control?

September 11, 2024 Coin Telegraph

Budget

Bitcoin’s perpetual funding rate shows lack of confidence from bulls, but options markets are displaying resilience.

Bitcoin (BTC) price experienced a 2.2% correction on Sept. 11 following the release of US consumer inflation data, but it managed to reclaim the $56,500 level within a few hours. The movement closely tracked the S&P 500 index, which saw a 1.6% decline on Sept. 11 as US Consumer Price Index growth hit its lowest level in over three years.

Bitcoin traders are skeptical that the $58,000 resistance will be breached, given the increased demand for bearish positions using BTC futures contracts.

Bitcoin/USD (blue) vs. S&P 500 futures (magenta). Source: TradingView

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

SBI VC Trade and Metaplanet Team Up for Advanced Bitcoin Trading Solutions

September 3, 2024 Bitcoin.com

Bitcoin

Metaplanet and SBI VC Trade have formed a strategic partnership to enhance bitcoin trading, storage, and management. This alliance aligns with Metaplanet’s “bitcoin first, bitcoin only” strategy, emphasizing BTC’s scarcity and decentralized nature. The partnership provides Metaplanet access to SBI VC Trade’s tax-efficient corporate custody services and the ability to use bitcoin as collateral, supporting […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Crypto liquidations may be way worse than data has let on, suggest researchers

September 2, 2024 Coin Telegraph

Binance

“Liquidation data from exchanges are bogus and a vast underrepresentation of actual liquidation volumes in the market,” according to K33 Research.

The amount and scale of crypto market liquidations could be much worse than data from major exchanges suggest, according to a researcher.

On Aug. 29, K33 Research senior analyst Vetle Lunde reported that major cryptocurrency exchanges such as Binance, Bybit, and OKX had significantly altered their reporting of liquidation data since 2021.

These alterations meant that exchanges recorded one liquidation per second instead of reporting all liquidations.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

A few lessons I learned as an institutional trader

August 21, 2024 Coin Telegraph

Coin Telegraph

As an institutional trader, I learned not to borrow too much in leverage from the exchange I was trading on, and to be right more often than I was wrong.

It’s rare that a person has an opportunity to experience the financial markets through the lens of both an institutional market maker taking down hundreds of millions of dollars on block trades.

However, I’ve been in the cryptocurrency trading space since 2017 when I was a freshman in college. I played through the ICO bubble, when I traded altcoins instead of studying for finals. I went through the summer of decentralized finance (DeFi) in 2020 during Covid-19, when I first started learning about liquidity pools. I experienced the exuberant bull run of 2021 while landing my first internship on the institutional side of trading, and I went through the crash of FTX.

I’ve learned several things from these few years, but here are a few of the key takeaways I’ve experienced after trading as both a retail and institutional trader.

Leverage

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