Derivatives – Page 79

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Data shows pro traders are heavily accumulating the current dip in Bitcoin price while retail investors are occupied with trading altcoins.

Ether’s spectacular rise to $3,300 has rendered all of the bearish put options worthless ahead of this Friday’s $470 million expiry.

Ethereum futures data suggests that pro traders believe $3,500 ETH is the next stop for the top altcoin.

Bitcoin price is clinging on to $53,000 while Ethereum’s increasing bullish momentum prompted renewed discussions of an ETH flippening.

Ethereum price is clearly in a strong bull trend, but derivatives data signals that pro traders are shifting their bullish bias back toward Bitcoin.

As over $4 billion in BTC options contracts stand to expire, most options traders will feel “max pain,” while options writers could gain.