Bitcoin open interest hits $8.8B as 45% of BTC options expire in 2 weeks
The open interest on Bitcoin options has hit $8.8 billion but data show bulls are in favor after BTC’s rally to a new all-time high.
The open interest on Bitcoin options has hit $8.8 billion but data show bulls are in favor after BTC’s rally to a new all-time high.
On January 12, the day the price of Bitcoin dropped from $41,000 to $30,500, over $2.5 billion worth of futures contracts were liquidated.
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Bitcoin futures and options indicators remained stable during the 26.5% crash, a signal that the harshest part of the BTC correction may be over.
Traders are freaking out about today’s 27% Bitcoin price drop but historical data show sharp corrections are natural even during bull markets.
Multiple data points show investors are strongly bullish on Ethereum price even after today’s sharp rejection at $1,160.
Crypto derivatives showed enormous growth in 2020 as nearly $2 billion worth of BTC options expired on Christmas day.
Ethereum options data show traders anticipate a continued surge to $880 over the next four weeks.
The price of Bitcoin surpassed its all-time high and surged above $24,600 as traders analyze what will come next.
Multiple Bitcoin price metrics show traders are still bullish on BTC even after the drop below $22,000.
Derivatives data and trading volume show investors are still bullish on Ether price even after today’s drop to $596.