After seemingly inevitable advances to a record-breaking $100,000 loss momentum, the Bitcoin Bulls began to express some questions. Chris Newhouse, Cumberland Research Director, said: “While we see strong institutional buying pressure, especially from entities like MicroStrategy’s continuous accumulation strategy, the broader crypto ecosystem is experiencing from Diversification of capital flows for institutional and non-institutional participants. ” Lab.
As the price plateau of Bitcoin, interest in other digital assets is rising, such as the second-largest cryptocurrency Ether and XRP, which lag behind the original cryptocurrency after the victory of President-elect Donald Trump. The former president has become a cryptocurrency advocate, raising expectations for the friendly regulations of the asset classes that are often argued.
According to data compiled by Bloomberg, the group of trade funds for Bitcoin and Ethereum exchanges has net monthly inflows of $6.5 billion and $1.1 billion, respectively. Friday’s daily Ether ETH ETF subscription also hit an all-time high.
“After six weeks of positive inflows, we have seen a week of sales and derivatives traders use demand as macro specifications for the direction,” Fadi Aboualfa, head of research at Copper Technologies Ltd., said in a message Monday. ” Early Bitcoin ETF investors may be keen to rebalance their portfolios and double their funds.”
Options Market
At the same time, according to Coinglass data, the leverage of Bitcoin futures expires in the late period of this month. In Bitcoin futures, Bitcoin’s downward protection is higher. According to Coinglass data, Bitcoin futures The leverage is medium, after digital assets reaching $99,000.
“In the mid-term queue traders (traders who buy in the 55k-70k range) achieve positive profits on the chain data points on the chain, while profits are particularly strong in BTC trading north of 90k,” Vetle Lunde said . The head of research at K33, a digital asset research company, cited data from Bitcoin Labs.
Lund said the metric is an estimate that tracks the chain-chain movement of Bitcoin, which is classified by prices in the last movement. However, it is rare to see such an important concentration in a price queue, so it points to that queue is particularly active at current prices, he said.
Open interest in Bitcoin options and futures contracts has been at a standstill level after a large amount of liquidation in recent weeks.
“In the past 10 days, the market has stopped as Bitcoin is at less than 100K. “VOL has been slightly compressed to the 64th percentile while Ether is at 81st,” said Jake Ostrovskis, a Wintermute OTC trader. The holding rate in each percentile is significantly higher. ”
Blockchain analytics firm Arkham added a post about X to X, which said it was transferred from U.S. government wallets from a former Silk Road website Arrive at Coinbase Exchange. Prices are usually low when traders speculate that a large number of bitcoins may be listed immediately.
Bitcoin has a stable $95,734 as of 9:33 am in Singapore on Tuesday. On November 22, it hit a record $99,728.
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