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Bitcoin - Day update: After the 42600+ 43800 are important zoneHello trading friends, This is an update for BTCUSDT with the last trends. After the last trend the 42600+ Bitcoin still looking positive into the main trend zone. Before we did update about the important 42600 as you can see here below It's important that BTC holds the 40K level to keep going into the positive trend - it means that BTC should hold it with a time frame and confirmation, not only a price hit. Depending on ETN tool these are the long term expecting Following the trend coming time for possible 43800+ trend. Have a great day.
Long
by watchtrend
BTC - Day update after the breakout - BTC processing for 42600+Hello trading friends, After the breakout of 40400, as adding here before into this chart. Bitcoin looks to process to new maintrend target of 42600+ There is still postive trend on BTC until the 39K, on this point we can get a new trend level, as long we dont hit this target, there is no reason even to look to small time frame on btc for breakdown trend. And as the most know that follow ETN tool - BTC have green cycle trend and depending on ETN trend BTC expecting trend are 48K - since the trend below For now its important that btc stays stable and same time with time frame increase to next maintrend level 42600+ Have a great day.
Long
by watchtrend
1
Bitcoin price closes in on $40K,Traders expect BTC to flip $40,000 back to support soon, but derivatives metrics signal that a different outcome could occur. The Bitcoin (BTC) daily price chart seems to be making a steady recovery pattern, but some concerning indicators are coming from derivatives markets. At the moment, the futures and options markets are showing a lack of confidence from Bitcoin pro traders, but there's a positive spin to the data. The road to $40,000 seems uncomfortably predictable, and cryptocurrency traders usually call it "manipulation" when such price movements happen. Regardless of the rationale behind Bitcoin's price recovery, investors should analyze derivatives markets to understand how whales, market makers and arbitrage desks are positioned. While retail traders' favorite instrument is the perpetual contract (inverse swaps), pro traders often opt for fixed-calendar futures and options. Although they are more complicated to trade, these derivatives offer more complex strategies. Liquidations are behind us, but so is the route to $69,000 Data shows that there hasn't been a relevant futures contract liquidation since Jan. 23. When leverage long (buyers) have their positions terminated, it accelerates the price correction, because derivatives exchanges need to sell those futures at market prices. Notice how the last “big” forced position termination on longs was $290 million on Jan. 23. This partially explains why Bitcoin’s recovery was relatively tranquil over the past week. Still, the market is nowhere near being out of the water, considering that BTC is currently trading 44% below the $69,000 all-time high. The Bitcoin futures annualized premium should run between 5% to 12% to compensate traders for "locking in" the money for two to three months until the contract expiry. Levels below 5% are extremely bearish, while the numbers above 12% indicate bullishness. The above chart shows that this metric dipped below 5% on Jan. 21 and hasn't yet shown signs of confidence from pro traders. So the big question is: Is the glass half full? For example, if Bitcoin breaks the $42,000 resistance, some traders will likely be caught off guard, so there's additional buying activity because no one wants to be left behind. Bitcoin futures markets are neutral, but options traders are skeptical Currently, it’s a bit difficult to discern a direction in the market, but the 25% delta skew is a telling sign whenever arbitrage desks and market makers overcharge for upside or downside protection. If traders fear a Bitcoin price crash, the skew indicator will move above 10%. On the other hand, generalized excitement reflects a negative 10% skew. As displayed above, we've been near 10% for almost a week despite the 18% BTC price recovery since the $33,000 bottom. The options skew data shows that pro traders are still pricing higher odds for a market crash. Despite the not-so-positive indicator from Bitcoin options, these arbitrage desks and market makers will be forced to reverse bearish positions once the price breaks $42,000. However, considering that the futures premium did not show signs of desperation even as the market crashed 52% from the all-time high, the data provides a constructive view. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
BITSTAMP:BTCUSD
by monicaagrizzi9
MicroStrategy buys the dip by purchasing 660 Bitcoin for $25MMicroStrategy bought significantly less BTC in January than in previous months, according to official data. Major Bitcoin (BTC) investor ​​MicroStrategy has announced another major BTC purchase during a market dip to collect a total of 125,051 BTC as of Monday. According to an official form with the United States Securities and Exchange Commission (SEC) filed on Tuesday, ​​MicroStrategy purchased 660 BTC between December 30, 2021, and January 31, 2022, for “approximately $25 million” in cash. The average BTC price of the purchase amounted to $37,865 per BTC, including fees and expenses, the report notes. As of Jan. 31, MicroStrategy held about $3.78 billion worth of BTC at the average purchase price of approximately $30,200 per BTC, inclusive of fees and expenses. The latest report comes shortly after the SEC reportedly rejected MicroStrategy’s Bitcoin accounting practices, causing MicroStrategy shares to plummet in mid-January. The SEC specifically objected to MicroStrategy reporting data related to BTC purchases based on non-Generally Accepted Accounting Principles (GAAP). The authority argued that MicroStrategy used non-GAAP methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.” The latest Bitcoin buy is apparently not that big compared to the most recent BTC purchases by MicroStrategy. In December 2021, MicroStrategy announced two major BTC purchases, buying 1,434 BTC from Nov. 29 to Dec. 9 at the average price of $57,477 per BTC and then purchasing 1,914 BTC from Dec. 9 to Dec. 29 at the average price of $49,229 per BTC. Previously, the company had bought as much as 7,002 BTC from Oct. 1 to Nov. 29 at the average price of $59,187 per BTC. Related: MicroStrategy CEO won’t sell $5B BTC stash despite crypto winter Major Bitcoin investors including the government of El Salvador continued to investi in BTC amid a market downturn in January. On Jan. 21, El Salvador president Nayib Bukele announced that the Salvadoran state purchased 410 BTC for $15 million, placing the average price at approximately $36,585 per BTC.
BITSTAMP:BTCUSD
by monicaagrizzi9