Open interest on Bitcoin options recently hit a year-to-date high, but what is fueling this newfound bullish sentiment? The recent gains are a rare sight in 2023, even considering Bitcoin’s impressive 108% year-to-date performance. Notably, the last instance of such price action occurred on March 14 when Bitcoin surged from $20,750 to $26,000 in just…
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Ethereum’s price is stabilizing around $1,800, a psychological resistance level for months, amid growing ETF approval buzz. Ethereum’s native token, Ether (ETH), is up today, mirroring gains elsewhere in the cryptocurrency market as investors go bullish on a potential spot Bitcoin ETF approval in the U.S. On Oct. 25, ETH’s price stabilized around $1,800, a…
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The largest cryptocurrency options exchange, Deribit has announced plans to expand its options offering to three additional altcoin coins. Per the announcement on X (formerly Twitter), the platform noted that the options trade will be added for Solana (SOL), Polygon (MATIC), and Ripple (XRP). “We’re bringing linear options for SOL, XRP, and MATIC to the…
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Bitcoin (BTC) fell back to the south of the $30,000 level on Monday to hit its lowest point since late June in the $29,600s. The world’s most valuable cryptocurrency network by market capitalization has now pulled back around 6% from the more than one-year highs it hit last Thursday around $31,800…. Read More: Bitcoin Slides…
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The Bitcoin futures premium surge is having traders ask whether this is excitement or a return to the average after a multimonth bear market. The Bitcoin futures premium reached its highest level in 18 months on July 4. But traders are now questioning whether the derivatives metrics indicate “excessive excitement” or a “return to the mean”…
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Weak derivatives metrics, and declining TVL and DApps use, put Ethereum bears in a better position to keep ETH price below $2,000. The price of Ether (ETH) faced strong resistance at $1,920 after a 17.5% rally between June 15 and June 22. Several factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory…
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Two key Bitcoin price metrics suggest that bulls will be able to hold the $30,000 level as support. Bitcoin (BTC) has been trading above $31,000 after its 24.3% rally between June 15 and June 23, which caught many off guard. For bears, that meant facing $165 million in short futures contract liquidations, but the unexpected…
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News of regulatory enforcement against the crypto sector fell by the wayside as the Bitcoin price rallied above $30,000, and options data suggests the trend will continue. Bitcoin’s 15% rally toward $30,300 between June 19 and June 21 caught most traders by surprise, triggering $125 million in liquidations of leveraged short futures contracts. Narrowing down…
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Bitcoin price continues to explore the lower regions of its trading range, but a drop to $25,000 seems nearly inevitable according to derivatives data. Bitcoin (BTC) has been trading in a narrow 3.4% range for the past three days after successfully defending the $25,500 support on June 10. In this time, investors’ attention has shifted…
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About 85,000 bitcoin options contracts, worth around $2.3 billion, are set to expire on major cryptocurrency futures and options exchange Deribit this Friday. According to Deribit data, around 700,000 Ethereum options, valued at over $1.2 billion, are also set to expire on May 26. “This Friday a total value of USD 3.6 billion will expire,…
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