contango – Blockchain

Bitcoin derivatives data suggests BTC price holds the current range

BTC investor sentiment turns increasingly bullish after this week’s quick rebound from a sharp price correction.

BTC futures and options data show pro traders’ sentiment was not impacted despite last week’s 11.4% correction.

ETH bulls are aiming to flip $2,000 back to support, but these two metrics point toward further downside.

Money is trickling back into the crypto market and derivatives data suggests that investor confidence is improving as the market forms a bottom.

Traders expect BTC to flip $40,000 back to support soon, but derivatives metrics signal that a different outcome could occur.

ETH price has been in a downtrend for 3 months, and derivatives data shows pro traders are almost ready to throw in the towel.