Short sellers got liquidated to the tune of $150 million, but two metrics show pro traders did not flip bullish after the recent Bitcoin rally. Bitcoin (BTC) showed strength on March 22, posting a 5% gain and testing the $43,000 resistance. The move liquidated over $150 million worth of leverage short positions, those betting on…
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Investment banking giant Goldman Sachs is “close to announcing” that it is the first major bank in the US to trade an over-the-counter (OTC) crypto transaction, per multiple reports. The bank traded a non-deliverable bitcoin (BTC) option – a derivative tied to the BTC price that pays out in cash – with crypto merchant bank Galaxy…
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BTC price struggles to sustain $40,000, but March 18’s options expiry might give bulls the $160 million profit needed to keep the positive momentum. Over the past two months, Bitcoin (BTC) has respected a slightly ascending trend, bouncing multiple times from its support. Even though that might sound positive, Bitcoin’s performance year-to-date remains a lackluster…
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Traders who believe ETH will recover but unlikely surpass $3,800 ahead of May can benefit from the skewed iron condor strategy. Being bullish on Ether (ETH) over the past four months did not pay off as its price dropped 44% from $4,600. The decentralized finance (DeFi) applications growth that fueled the rally faded away, partially…
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The Biden administration’s dovish approach to crypto sector regulation and a bounce in equities markets could give bulls a boost in Friday’s $790 million options expiry. Bitcoin (BTC) bulls jumped in to defend the $40,000 level after a devastating retest of the $38,000 support on March 7. The confidence and momentum that was building up…
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The market gave up last week’s gains from Bitcoin’s surge to $45,000, but derivatives metrics suggest retail traders are more bullish than market makers and whales. The phrase “hindsight is 20/20” is a perfect expression for financial markets because every price chart pattern and analysis is obvious after the movement has occurred. For example, traders…
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Pro traders often use the risk reversal options strategy to hedge their bets and profit in the case of an unexpected rally. Bitcoin (BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited “significant buying pressure” and noted that the overall negative sentiment might be heading towards exhaustion.…
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ETH price is storming toward a key resistance level, but pro traders are reluctant to add leverage for three important reasons. Even though Ether (ETH) price bounced over 20% from the $2,300 low on Feb. 22, derivatives data shows that investors are still cautious. To date, Ether’s price is down 24% for the year, and…
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Traders expect BTC to flip $40,000 back to support soon, but derivatives metrics signal that a different outcome could occur. The Bitcoin (BTC) daily price chart seems to be making a steady recovery pattern, but some concerning indicators are coming from derivatives markets. At the moment, the futures and options markets are showing a lack…
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Bulls had a 90% higher open interest coming into Dec. 31 options expiry but bears managed to balance the scales at $47,175. Bitcoin’s (BTC) price has been ranging between $46,000 and $52,000 for 26 days. Despite the large nominal $6.1 billion year-end options expiry, the bullish and bearish instruments were evenly balanced between $44,000 and…
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