Bitcoin bulls were obliterated, but is it time to catch the falling knife?

Bitcoin derivatives show traders morale is low, weakening the odds of a 20% rise from the $49,320 BTC bottom.

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Key Bitcoin price metric drops to a 2-week low Is the BTC bull market over?

Bitcoin price has dropped to a worrying low, leading some traders to throw in the towel and claim the bull run is over.

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Are Bitcoin traders losing hope? Top traders metric hits two-week low

Bitcoin derivatives markets show less appetite for bullish positions. Is BTC price at risk?

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BNB blasts past $700. Is there a limit to this rally?

BNB Chain activity and BNB derivatives indicate a healthy bull run, but no room for further upside.

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Can SOL reclaim $170? Two indicators scream 'buy'

SOL derivatives and the Solana network have remained stable, indicating that traders and users are not ready to give up.

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Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News

Data suggests users on Binance responded to the Ethereum exchange-traded fund (ETF) news by aggressively longing the cryptocurrency. Ethereum Net Taker Volume On Binance Has Just Seen Its Biggest Candle Ever As explained by CryptoQuant community manager Maartunn in a post on X, the Ethereum Net Taker Volume has observed a sharp increase after rumors have surfaced that the ETH spot ETFs have a renewed chance of gaining approval. The “Net Taker Volume” here refers to an indicator that keeps track of the difference between the ETH taker buy and taker sell volumes on any given centralized exchange. Related Reading: Litecoin Whales Go On $230 Million Buying Spree: Will This Change LTCs Stars? When the value of this metric is positive, it means that the taker buy or long volume is outpacing the taker sell or short volume on the platform right now. Such a trend implies a bullish sentiment is dominant among the investors. On the other hand, the indicator being negative suggests the presence of a majority bearish mentality among the users of the exchange as the shorts are outpacing the longs. Now, here is a chart that shows the trend in the Ethereum Net Taker Volume on the cryptocurrency exchange Binance over the last few years: As displayed in the above graph, the Ethereum Net Taker Volume on Binance has just registered a huge positive spike, the implying investors have just opened a large amount of longs on the platform. More specifically, the indicator’s value during this spike has been $530 million, which, according to the analyst, is the single largest spike the cryptocurrency has ever seen. “Binance-traders are longing the Ethereum ETF-news like there is no tomorrow,” notes Maartunn. This isn’t particularly surprising, considering the market is very well aware what a spot ETF could mean for the asset after having witnessed what went down for Bitcoin. The ETF news pre-approval had been bullish for BTC and while the approval itself had initially led to bearish price action, it eventually paid off for the asset as capital started rapidly flowing in through these investment vehicles and the coin enjoyed a rally that led to a new all-time high (ATH). In another X post, the CryptoQuant analyst pointed out that the Ethereum Open Interest has shot up as well. The “Open Interest” measures the total amount of ETH-related positions that are currently open on all derivative exchanges. This trend isn’t that unexpected, given that derivatives users have been opening a large amount of longs for the asset. With this rapid surge, the Ethereum Open Interest has managed to set a new ATH. Related Reading: Bitcoin Profit-Taking Has Completed, Top Analyst Reveals Historically, intense speculation has generally led to more volatility for the coin, as the risk of large liquidations happening can become high in such periods. As such, this Open Interest spike may signal some turbulent times ahead for Ethereum. ETH Price So far in the rally fueled by the ETF news, Ethereum has managed to break past the $3,800 level, which is a milestone the coin hadn’t achieved since mid-March. Featured image from Shutterstock.com, CryptoQuant.com, chart from TradingView.com

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Bitfinex Bitcoin Longs Surge to 6-Month Peak: Will BTC Price Rise?

As Bitcoin continues to show strength in the market, Bitfinex reports a surge in Bitcoin long positions to a 6-month high. This development has sparked speculation about whether the BTC price will rally in the near future. The increase in Bitcoin longs on Bitfinex suggests growing investor confidence in the leading cryptocurrency. Long positions reflect [...]

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Will $30K be a new springboard for Bitcoin bulls?

After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support [...]

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Bitcoin price is down, but data signals that $30K and above is the path of least resistance

Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound.

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This bearish technical pattern hints at a double-digit drop in Bitcoin price

Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects.

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Bitcoin Shorts Hit Two-Year Record As The FTX Collapse Makes Waves, CoinShares Reports

The FTX scandal has made the crypto winter even colder, and traders are betting against the price of Bitcoin, thinking that there is still some time ahead before spring arrives.

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Bitcoin margin long-to-short ratio at Bitfinex reach the highest level ever

A key Bitcoin price metric hit a new all-time high, but is this a bullish or bearish development?

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Bitcoin batters longs as liquidations copy May 2021 run to $30,000

Longs have been paying the price since early December, data shows, in a sign that accompanied a market reversal several times last year.

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Pro traders cut their EOS longs, but retail FOMO and $50K+ BTC could tip the scale

On paper, EOS has great fundamentals, but derivatives markets suggest traders don’t feel the same about the altcoin’s price potential.

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Bitcoin Surges to $85K with Help from Spot and Margin Longs, But Is the Bottom Near?

Bitcoin traders are currently witnessing a surge in spot and margin long positions, propelling the price of BTC to a staggering $85,000. Despite this remarkable feat, experts warn that the market may not have hit its bottom just yet. The influx of long positions indicates growing optimism among traders regarding Bitcoin’s future price movements. This [...]

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$200 Million In Crypto Longs Wiped Out As Altcoins Crash To Start Week

Data shows that the cryptocurrency derivatives sector has seen a high amount of liquidation during the past day as Ethereum and other altcoins plunged. Altcoins Have Just Witnessed Massive Long Liquidations According to data from CoinGlass, liquidations have piled up on the cryptocurrency futures market in the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has accumulated losses of a certain degree. Related Reading: Is It Time To Buy XRP? TD Sequential Says Yes When a large amount of liquidations occur at once, the event is popularly known as a squeeze. The chances of a squeeze taking place come down to two factors. The first is naturally the volatility, as a larger swing in the price would mean a wider span of contracts gets pushed into the red. The other factor is leverage, a loan amount that derivatives market traders can opt to take against their initial collateral. Leverage is often many times the position itself, so the benefit of having it is that any profits earned are multiplied by the same factor. But as this also applies to losses, it’s easier to get liquidated with leverage if the bet doesn’t work out. In the cryptocurrency sector, assets can often be volatile and positions tend to be overleveraged, so a squeeze can occur from time to time. During the past day, the market has once again seen a surge in volatility, which has led to yet another liquidation squeeze. Here is a table that breaks down the relevant numbers related to this event: As is visible above, the cryptocurrency derivatives sector has registered a total of $268 million in liquidations during the last 24 hours. Out of these, $217 million of the positions involved were bullish bets. The long contract holders taking the brunt of the liquidations is naturally down to the fact that the altcoins have gone through a price crash inside this window. Now, here is a heatmap that displays how the contribution to the squeeze has looked from the individual assets: Generally, Bitcoin (BTC) tops this list, but it would appear that the number one cryptocurrency has failed to make even the top two this time around. This is due to the fact that the coin has seen relatively flat movement during this crash of the altcoins. Related Reading: Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare? Ethereum (ETH), the largest among the altcoins, has provided the largest share of liquidations at $56 million. Solana (SOL), which has faced the worst decline among the top 10 digital assets of 6%, has come second at $33 million. ETH Price Ethereum made some recovery during the weekend, but it seems the coin has already retraced those gains to start the new week as its price has gone down 4%, dropping to $2,700. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com

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How A South Korean Crypto Trader Lost Nearly $1 Million Trying To Short Bitcoin

Sotto, a Korean trader, lost nearly $1 million trading Bitcoin futures, reports on March 15 indicate. Trader On A Losing Spree Trading Bitcoin On his crypto futures trading account, Sotto first tried to short Bitcoin at around $21,000. However, because of the heightened market volatility and various fundamental factors, prices continued increasing, liquidating his entry. [...]

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Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations

Data shows the cryptocurrency derivatives market has suffered a massive amount of liquidations after the Bitcoin flash crash during the past 24 hours. Bitcoin Has Witnessed Significant Volatility During The Last Day BTC has displayed some wild price action in the past day, with both a high of $103,500 and a low $90,500 occurring inside [...]

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Ethereum funding rate hits 8-month high Is an ETH price correction coming?

Ethers funding rate soared to an 8-month high, but is it a sign of a strengthening rally or an impending price correction? 

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Bitcoin futures open interest at 2023 high while BTC trading volume at yearly low — What gives?

Bitcoin (BTC) traders are currently not pleased with the recent price trends, especially due to the inability of its price to surpass the $30,500 mark over the last four weeks. This frustration is compounded by the fact that several requests for spot Bitcoin exchange-traded funds (ETFs) are either being delayed or pending review from regulators. [...]

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