Cryptocurrency
Bitcoin Futures and Options Volume is Surging; Expect an Explosive Movement
As reported on NewsBTC, “Bitcoin (BTC) and the aggregated cryptocurrency markets have been trading sideways over the past day, with bulls’ attempt earlier today to recapture $8,000 proving to be fleeting due to an abundance of selling pressure within this price region. “It now appears that big traders are anticipating Bitcoin to make a massive […]
As reported on NewsBTC, “Bitcoin (BTC) and the aggregated cryptocurrency markets have been trading sideways over the past day, with bulls’ attempt earlier today to recapture $8,000 proving to be fleeting due to an abundance of selling pressure within this price region.
“It now appears that big traders are anticipating Bitcoin to make a massive movement in the days ahead, as the cryptocurrency’s CME Futures volume is climbing to levels not seen since the benchmark cryptocurrency began its descent from highs of $10,500.
“Data regarding Bitcoin’s options volume also seems to confirm this notion, as it just hit a fresh all-time high…
“…Today’s bout of consolidation comes close on the heels of the recent selloff that sent BTC reeling down from the upper-$8,000 region, with its latest decline marking an extension of the downwards momentum that was first incurred in late-February when Bitcoin faced a harsh rejection at $10,000…”