Bitcoin derivatives show a lack of confidence from bulls
High correlation to stock markets and recession risks limit optimism on the part of BTC investors.
Ethereum futures backwardation hints at 30% ‘airdrop rally’ ahead of the Merge
Backwardation reflects a market condition wherein spot prices trade higher than future prices.
Ethereum options data show pro traders ready to go long into ETH’s Merge
ETH price hit resistance at the $1,600 level, but this is not stopping options traders from opening fresh leveraged longs.
Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T
Data shows investors jumping back into fiat and a lack of bullish leverage in the crypto market suggests another correction is in the making.
Pro Bitcoin traders are uncomfortable with bullish positions
BTC derivatives used by whales and market makers do not support a continuous price recovery above $24,000.
Bitcoin derivatives data suggests bears will pin BTC below $21K leading in Friday’s options expiry
Bitcoin’s failure to break above $22,000 on July 8 opened room for bears to score a $100 million profit in this week’s options expiry.
How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000
The absence of a CME Bitcoin futures premium, unrelenting record-high inflation and investor concerns over the economy are all factors weighing on BTC price.
3 key metrics suggest Bitcoin and the wider crypto market have further to fall
Traders are not as fearful as they were in June, but several metrics show the market is still standing on paper-thin support levels.
Bitcoin traders expect a ‘generational bottom,’ but BTC derivatives data disagrees
BTC bulls think the bottom is in, but a neutral-to-bearish price formation and the absence of a futures premium contradict their optimism.
Bitcoin’s short-term price prospects slightly improved, but most traders are far from optimistic
Bitcoin’s derivatives metrics reflect slight improvements since the $17,600 low, but whales and market makers continue to price higher risk of another breakdown.