Bitcoin’s Futures is turning into landing: Will BTC decrease to $ 112,000? star-news.press/wp

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The morale index in the Bitcoin futures market decreases to 36 % entering the descending lands. PHandishness etail dominates future contracts and the immediate market as a decrease to $ 112,000 waving on the horizon.

Since it reached 124 thousand dollars, Bitcoin (BTC) decreased for five consecutive days, reaching a local level of $ 114442. IIn fact, at the time of the press, Bitcoin was trading at $ 115.055, which represents a 3.24 % decrease over the past week.

Amid this sharp decline, futures slowly turn into landing, and this may not be good for BTC. This is why.

Bitcoin future contracts look down

According to Cryptoquant analyst Axel AdlerThe Bitcoin Feelings Index in the futures market decreased to 36 %. With this decrease, the index now sits much lower than the neutral area or descending lands.

Source: Cryptoquant

Usually the decrease in this index indicates less than 45 that most merchants have become more than risk and expect prices to decrease. Thus, futures are witnessing an activity moved by fear can increase the negative side.

Historically, futures players played an important role in the Bitcoin price movement. For example, on 11 to 14 August, when the feelings index jumped to 70 %, the Bitcoin price rose to 123 thousand dollars.

Therefore, the last decline means that the bounce will be discharged, which leads to price fluctuations. Under these circumstances, Adler suggests that Bitcoin will face a decrease, until it decreased to 112 thousand dollars.

Retail traders lead a decline

Ambcrypto’s look at the futures market market showed that retail traders took control and looks very landmark.

For beginners, future demand volume data from Cryptoquant showed huge retail requests.

Source: Cryptoquant

Those participants on a small scale mainly limit the market. According to Coinglass, the short short Bitcoin ratio decreased to 0.8765, as short pants represent 53 %.

Source: Coinglass

At the same time, long positions accounted for 46.7 % of total future contracts. Often, when the short pants dominate, it indicates that most participants are betting on the prices for a decrease, a clear landmark.

Sell activity also increases

Since retail in the futures market are diligent, they are unloading the power of their property in the immediate market.

Source: Cryptoquant

According to Cryptoquant, the Bitcoin Taker Buy sale decreased for five consecutive days, reaching the lowest level in the two weeks. Such a continuous decrease means that most market participants sell BTC strongly.

As a result, the scarcity of encryption decreased significantly, as it decreased to 41 thousand BTC from the highest monthly level of $ 53,000.

Source: Cryptoquant

Usually, when the BTC scarcity decreases, this means that there are more easily available symbols for immediate sale. Often low -price scarcity precedes low prices, especially if the demand fails to keep pace with the increase in supply.

More next losses for BTC?

Bitcoin has seen a sustainable decrease as retailers have turned into vibration in futures and instant markets.

As a result, the Index of the RAM of the coin has decreased to 10, and reached highly selling lands. At the same time, the relative strength index fell to 44.

Source: TradingView

Usually, when the momentum indicators decrease to these levels, it indicates a strong declining momentum and the possibility of continuing direction.

After saying this, if the retail sale continues to sell and reduce the market, BTC can test support 112 thousand dollars, as I expected Adler.

However, if many of them are placed down, we may see a recovery led by short pressure with BTC recovery 117 thousand dollars.