Over the past two months the open interest on Bitcoin options has held reasonably steady even as the figure increased by 118% to reach $8.4 billion as (BTC) price rose to a new all-time high.Read more
Roughly $500 million worth of cryptocurrency futures positions were liquidated in the past 24 hours. The mass liquidation of positions happened before the price of Bitcoin (BTC) dipped below $34,000 on Jan. 17.
Bitcoin total liquidations. Source: Bybt.
The leverage used in the Bitcoin (BTC) futures market has fallen significantly in the past several days. This indicates that traders are generally uncertain about where BTC is heading in the near term.
Estimated leverage on Binance.
Bitcoin (BTC) price recovered by 27% just three days after testing the $31,000 support and earlier today bull recaptured the $40,000 level.
This quick recovery occurred despite the digital asset facing one of the largest buy-side liquidations in a single day as $1.5 billion was wiped off the books.
The Chicago Mercantile Exchange, or CME, has recorded significant volume for its Bitcoin (BTC) futures trading product over the course of the last 12 months. “More than 2.2+ million contracts were traded in 2020,” a CME representative told Cointelegraph.Read more
Nearly $1 billion worth of Bitcoin (BTC) futures contracts were liquidated on Jan. 13, a day after the big shakeout. The continuous loop of liquidations is causing extreme volatility and large price swings in the cryptocurrency market.
Total Bitcoin liquidations. Source: Bybt.
Canadian investment fund manager Arxnovum Investments has filed a prospectus for a new Bitcoin (BTC) exchange-traded fund, or ETF, in Canada.
On Jan. 11, the company filed a stack of preliminary documents for the Arxnovum Bitcoin ETF with Canada’s Ontario Securities Commission.
This week’s $11,000 drop occurred in just 32 hours and this definitely an important milestone for Bitcoin (BTC) price.
Many mainstream media outlets perceived the correction as the start of a new bear market but data simply does not support this line of thinking.
The euphoria in the cryptocurrency market was quelled on Jan.11 as the majority of altcoins saw their prices decline by more than 20% as Bitcoin price sold off sharply.
After falling below the $40,000 support level on Jan.
After Bitcoin (BTC) price flirted with a $42,000 all-time high on Jan. 8, it stabilized in a tightening range between $39,000 to $41,500 for two days and the pennant structure on the shorter-term timeframes hinted that a breakout to $45,000 was a possibility.
This all changed quite suddenly Jan.