News of regulatory enforcement against the crypto sector fell to the wayside as Bitcoin price rallied above $30,000, and options data suggests the trend will continue.
Bitcoin’s price continues to explore the lower regions of its trading range, but a drop to $25,000 seems nearly inevitable, according to derivatives data.
Professional Bitcoin traders are favoring sideways price action as the BTC futures premium drops and the options delta skew nears 0%.
The total crypto market cap has been ranging sideways, but Bitcoin derivatives markets indicate pro traders don’t expect any major price corrections.
BTC options and futures markets show no use of excessive leverage from buyers, a healthy indicator as the $28,000 support gets retested.