Bitcoin Futures Traders Return To Pump BTC: How long will it last?

Important points

• Crypto traders are returning to the market as spot and futures trading volumes rise.

• Charts indicate that swing trader will be selling intraday rally peaks.

The crypto market was volatile Tuesday, as Bitcoin prices (BTCEther, (ETHThe SOL (Solana’s SOL) produced a small increase to $4.110. Solana’s SOLSOLThe price of, also tried to rise above $200 with a short rally. It reached $198. In Bitcoin’s instance, the breakout rallies are in line with BTC’s increasing open interest, and indicate that traders have returned to the market following the Oct. 10 crash, when $20 billion worth of futures were liquidated.

Evidence of Proof traders rejoining the market The data of CoinGlass, which shows Bitcoin Futures Open Interest rising from its October 11 Low at $28 Billion to above $32 Billion can be seen.

Analysts at Hyblock provided a chart that showed the rise to $114,000, from $107,453, aligning with Bitcoin’s 4-hour-anchored open interest as well as its cumulative volume delta. This breakout rally coincided with an increase in BTC’s funding rate. It is likely that futures markets are driving this move. 

As Bitcoin’s price settles into its post-sale range, analysts say traders will start to focus on the zones with the most liquidity. Today, BTC prices were absorbing topside liquid in the range of $114,000-$115,000. 

Related: Price predictions 10/20: SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE

Rakesh upadhyay is a technical analyst at Cointelegraph. He said: “Data suggests traders are becoming more comfortable adding risk.” “sellers are expected to continue closing profitable positions at intra-day range highs,” Bulls, however, are not expected to be a common sight. defend the $107,000 support. 

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.