Bitcoin Derivatives Signal Shows $73K Breakout
Bitcoin derivatives markets are sending out major bullish signals that the king cryptocurrency may be close to reaching an all-time high of $73,000.
Institutional traders are bracing for an imminent breakout attempt, according to several key derivatives figures.
In the futures sector, Bitcoin's monthly contract basis increased by a whopping 14% – the highest premium seen in over a month. That increase represents a clear increase in demand for long exposure to BTC as a smart money position for the next big bullish move.
Options skew is equally bullish, with perpetual funding and long/short ratios maintaining a neutral balance of 8% despite the recent price pump. This shows that professional traders are yet to price in a sharp volatility shock or retracement, demonstrating a firm belief in Bitcoin's higher trajectory.
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