Bitcoin traders accumulate in futures contracts, is recovery contained? star-news.press/wp

Main meals:

• The future demand in Bitcoin continues despite the last twice the prices, indicating the ongoing sharing of the trader.

• PUT options have maintained in addition to calls, which reflects the continuing landmarks between investors.

Bitcoin (BTC) fell to $ 109400 on Monday, its lowest level in more than six weeks. The correction followed a sale of $ 11 billion with a sleeping whale for a period of 5 years that was sleeping for a period of 5 years, with revenue to the Ether spot (ETH) and future contracts on the decentralized hyper.

Despite the low prices, the demand for futures for Bitcoin rose to the highest level ever, prompting traders to ask if $ 120,000 is the next logical step.

The open interest in Bitcoin Futures increased to the highest level ever in BTC 762,700 on Monday, an increase of 13 % over two weeks before. The most powerful demand for positions is to benefit from traders that traders do not give up the market despite the 10 % decrease in the highest level in Bitcoin at all on August 14.

Although this is a positive indicator, the open interest of $ 85 billion in futures does not necessarily reflect optimism, as the Longs (buyers) and short pants (sellers) are always matching. If the bulls tend to lift, less than $ 110,000 may cause successive liquidation.

Bitcoin Futures Premium is currently 8 % neutral, an increase of 6 % in the previous week. It is worth noting that the scale is not left than the neutral threshold by 10 % for more than six months, which means that even the highest level worth 124176 dollars ever failed to instill the wide difficulty.

The benefit from shakew is highlighted, but sparks

According to Coinglass data, according to Coinglass data. The event showed that bitcoin maintains deep liquidity even on weekends, but the speed of implementation raised doubts, given that the seller has held this position for years.

Bitcoin Perpetual futures financing rate decreased to 11 % after a short -term rise. In neutral markets, the rate usually ranges between 8 % and 12 %. Some silent feelings can be explained by $ 1.2 billion in net external flows from the investment funds circulating in Bitcoin listed in the United States between August 15 and August 22.

To assess whether this level of caution worries, traders must check the BTC Options Market.

PUT options are currently circulating by 10 % on communication tools (purchase), which is a clear sign of a declining feeling. Although excessive fear is clear, it is not unusual after the price of bitcoin decreased by $ 6,050 in just two days. Psychology in the market is likely to be affected by the exposure of whales from bitcoin to the ether, although these flows tend to settle over time.

Related to: The strategy buys $ 357 million in Bitcoin, where the price decreases to 112 thousand dollars

Although the weakness recently affected feelings, the possibility of bitcoin mobilizing about $ 120,000 has not disappeared. However, any continuous rise trend is likely to rely on renewable local ETF flows, especially since global growth is still uncertain. At the present time, the expiration of the monthly options of $ 13.8 billion on Friday can be a catalyst that determines whether investors are returning the market.

This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.