futures – Page 33 – Blockchain

$29K Bitcoin is closer than you might expect, according to derivatives data

Derivatives data show a clear path to $29,000, but inflation and unemployment data will continue to be crucial to determining BTC price rallies.

High correlation to stock markets and recession risks limit optimism on the part of BTC investors.

Backwardation reflects a market condition wherein spot prices trade higher than future prices.

ETH price hit resistance at the $1,600 level, but this is not stopping options traders from opening fresh leveraged longs.

Data shows investors jumping back into fiat and a lack of bullish leverage in the crypto market suggests another correction is in the making.

BTC derivatives used by whales and market makers do not support a continuous price recovery above $24,000.