Roughly $2.3 billion worth of Bitcoin futures is set to expire on Christmas day, setting the stage for a volatile week in the cryptocurrency market. In a Monday tweet, crypto data provider Skew reported that 102,200 Bitcoin (BTC) options will expire on Friday. Options contracts allow holders to buy or sell Bitcoin at a specific price, which is known as the strike price. The Friday expiry has notable clusters around the $15,000 strike price and the $20,000 strike price, according to Skew. The expiry date of Bitcoin options contracts is widely regarded as a volatile event for the flagship cryptocurrency …

The price of Bitcoin (BTC) surpassed $24,000 on Dec. 19, reaching a new all-time high. On Coinbase, BTC peaked at $24,200 and has since consolidated into the $23,500 to $23,800 range. Three factors pushed the price of BTC upwards within a short period, leading it to a record-high. The factors are a large short squeeze, stacked sell orders at $23,600, and the market’s reaction to the U.S. Treasury’s self-custodied wallet rule proposal. A massive short squeeze occurs again at $23,600 According to data from Bybt.com, $138 million worth of short contracts were liquidated today. The mass liquidation of short contracts …

The Bitcoin (BTC) futures funding rate on Binance Futures overtook Deribit on Dec.18, according to data from CryptoQuant. Historically, when this happened, the dominant cryptocurrency saw a local top or consolidation. The funding rate of major cryptocurrencies, including Bitcoin and Ether (ETH), rose considerably in the past 48 hours. This typically indicates that the futures market is overheating, which raises the probability of a pullback. What comes next for Bitcoin? Bitcoin has already seen a relatively mino pullback and some consolidation after its recent rally. Within two days, from Dec. 16 to 17, the price of Bitcoin rose from $19,300 …

Cryptocurrency derivatives platform Deribit is letting traders bet on a $100,000 Bitcoin (BTC) price — and within a certain period, no less. As of Thursday, Deribit users can bet on the flagship cryptocurrency reaching $100,000 via options contracts that expire on Sept. 24, 2021. The lofty strike price was established following a surge in daily trade volumes. In options trading, a strike price is the value that a derivative contract can be bought or sold when it's exercised. Deribit processed 754,123 BTC options contracts in November, according to marketing material that appeared on Twitter Thursday. The exchange is currently listed …

The open interest on Bitcoin (BTC) options contracts has reached a new all-time high at $6.5 billion on Dec. 17. That figure represents a three-fold increase from 90 days ago and is proof that the market has grown significantly in the past 6-months. Investors must keep in mind that even though a $6.5 billion open interest is an impressive number, it doesn't necessarily mean that professional investors are bullish or bearish. Call options provide buyers with an opportunity to leverage without running the risk of liquidation. Meanwhile, put options are an excellent way to hedge against a potential future sell-off. …

Today Bitcoin (BTC) price blasted through the $20,000 level and in the process, a record $7.9 billion in futures open interest was set. Although the price increased by 74% over the past two months, the total accumulated short-seller liquidations amounted to $4.3 billion, which is lower than the $4.8 billion from longs. As shown in the chart above, the futures aggregate open interest increased by 90% over the past two months. Thus, signaling that investors are increasing their positions, which in turn allows even larger players to participate. It is also worth noting that the Chicago Mercantile Exchange (CME) now …

As Bitcoin (BTC) tested a $17,580 low on Dec. 11, investors remained relatively calm despite some analysts issuing bearish estimates. The week may have finished at the same level where it started, but the fundamentals for Bitcoin have become even healthier. Whenever the Bitcoin price drops considerably, there is usually some blatantly bearish analysis popping up and while this may sway the investment decisions of retail investors, professional traders know better. They avoid the FUD and the excessive pessimism that is the result of negative price swings. In the past week, Bitcoin dominance continued its uptrend up, from 63.5% to …

On Dec. 11, a total of $540 million in Bitcoin (BTC) options open interest is set to expire. This number mimics the past month's $525 million options expiry, as monthly and quarterly options typically concentrate the most volume. Although both dates present somewhat unusual activity, this time around, bears seem in control. Data also shows that the Bitcoin bulls appear to have become too optimistic. Currently, the exchange Deribit holds 85% market share for Friday's expiry, with $189 million worth of call (buy) options stacked against $282 million put (sell) options. Even though the 1.44 put-to-call ratio is favoring the …

U.S. stocks have started to correct as worries surrounding the pandemic are mounting. Meanwhile, theBitcoin (BTC) price has pulled back below $18,800 on Dec. 8 after struggling to break resistance at $19,500. COVID-19 cases in the United States and Europe are continuously surging despite strict restrictions. Sweden, for instance, which has thus far relied on voluntary measures, has implemented a new set of restrictions. Since Oct. 30, the Dow Jones Industrial Average increased by 13.46% within six weeks. Other major U.S. stock market indices, such as the S&P 500, similarly rose by around 13%. Following a strong six-week rally, the …

Apart from a brief $18,100 test on Dec. 1, Bitcoin (BTC) markets remained relatively calm over the week. This suggests that investors are beginning to realize that a more extended period of consolidation could be possible after a 77% hike since October. Whenever the Bitcoin price stabilizes, there is always an increased expectation of an altcoin rally. That hasn't been the case recently, as BTC dominance increased by 0.8% to 63.6% this week. This move signals that investors are either waiting for a $20,000 resistance break or fearing a potential negative price swing. Thus, such a movement indicates that their …

For the past week, Bitcoin (BTC) price has been flirting with the $20,000 mark, which has led some traders to lose their patience. In the eyes of some traders, the lack of bullish momentum is problematic, especially considering that BTC tested the $16,200 level roughly a week ago. Experienced traders know that there are key indicators that serve as telling signs of a trend reversal. These are volumes, the futures premium, and top traders' positions at major exchanges. A handful of negative indicators will not precede every dip, but there are some signs of weakness more often than not. Every …

Bitcoin (BTC) futures hit $20,000 on Dec. 1 as all-time highs finally began to convert into a new price era for BTC/USD. Data from TradingView showed Chicago Mercantile Exchange Bitcoin futures heading past the historic $20,000 mark during Tuesday trading. BTC price: $20,000 sparks familiar volatility At press time, CME BTC futures' highs of $20,300 had appeared amid characteristic volatility, which saw BTC/USD crash to $19,000 in under ten minutes. “Worth noting that a $1,000 swing is just 5% now. Adjust accordingly,” popular pseudonymous trader CryptoBull tweeted in response to the flash crash. The move is nonetheless a momentous occasion …