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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Bitcoin futures open interest continues to remain high after the launch of the first bitcoin exchange-traded fund (ETF) on October 22. While Binance commands $5.81 billion and leads the pack, CME Group holds the second-largest position in terms of bitcoin futures open interest (OI) with $4.1 billion or 16.84% of the aggregate OI. Top Ten…
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Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data…
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Correlation does not imply causation, but these 3 indicators did signal prior to Bitcoin’s recent push to $49,000. In stock markets and the crypto sector, traders are always looking for a definite reason to explain an asset’s price action, which means it’s important to stress that correlation doesn’t imply causation. While it may be easy…
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