Many traders believe the narrative that Bitcoin price drops ahead of CME BTC futures expiries, but data shows the trend is all bark and no bite.
Bitcoin adoption continues to increase but derivatives data shows retail and professional traders are reluctant to build new bullish positions.
After years of anticipation, Goldman is finally offering institutional partners trading services.
Bitcoin bulls have a $104 million advantage leading into Friday’s $1.1 billion options expiry, but a favorable close depends on BTC price reaching $60,000.
Data shows pro traders are heavily accumulating the current dip in Bitcoin price while retail investors are occupied with trading altcoins.
Ethereum futures data suggests that pro traders believe $3,500 ETH is the next stop for the top altcoin.
Bitcoin price is clinging on to $53,000 while Ethereum’s increasing bullish momentum prompted renewed discussions of an ETH flippening.
Ethereum price is clearly in a strong bull trend, but derivatives data signals that pro traders are shifting their bullish bias back toward Bitcoin.
Bitcoin options traders hoped for a $60,000 monthly close, but the balance between calls and puts signal the expiry will be a non-event.
Bulls have a $115 million lead on Friday’s $930 million Ethereum options expiry, a signal that ETH could be en route to new all-time highs.