Bitcoin May Soon Wake From Slumber, Derivatives Data Indicate

Posted on by American Coins & Gold

Bitcoin May Soon Wake From Slumber, Derivatives Data Indicate
Day traders bored of bitcoin’s recent slumber may soon have to remain glued to their screens, as a large number of open futures positions signal renewed price turbulence ahead.”Futures markets remain a powder keg for short-term volatility with Perpetual Futures Open Interest at ~250,000 BTC- a historically elevated level,” blockchain analytics firm Glassnode said in a research note published on Monday.An above-250,000 BTC open interest has coincided with volatility spikes in the past. “Since April 2021, this has paired with large pivots in price action as the risk for a short or long squeeze increases, resolved in a market wide…