Increase investment in bitcoin futures and ETFs🤑🤑🤑🤑🤑🤑🤑🤑
In addition to call options, the futures market is also reflecting bullish signals. The number of positions in these instruments has increased to USD 19 billion while the funding rate has remained positive for three weeks.
The positive financing rate in the futures market means that there are more positions betting on the price increase than on the decrease. “This indicates that fast traders (futures traders) expect bitcoin to continue rising,” explains investment company Matrixport.
Matrixport also highlights that bitcoin exchange-traded funds (ETFs) in the United States this week recorded the second largest daily inflow in their history. So you can check it below. With this combination of factors, the investment company maintains that “bitcoin appears ready to rise further.”
However, it should be taken into account that June is not usually one of the most bullish periods of the year for the digital currency, although it is not one of the most bearish either.
According to analyst Michaël van de Poppe, the important thing now is that USD 70,000 is maintained to continue to the all-time high. Consider this the floor test the BTC market needs to gain momentum and push cryptocurrencies in general higher.
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