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07.11 - 22:55
Traders need to consider these factors, before Bitcoin breaches above $64,000
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Over the past 48-hours, Bitcoin displayed incredible resilience above $60k, bouncing back on each hourly candle that dropped below the range. At press time the asset continued to consolidate above $62k, and the market was collectively indicative of bullish signs all around.
While on-chain metrics have been discussed fervently over the past few weeks, the derivatives market has picked up momentum over the course of October, and at press time, OI and volumes are reaching 2021 ATH levels. In this article, we will evaluate if the rising interest in futures, options can lead to better price discovery or if there is something else to worry about.
Source: Glassnode
For the most part of July-August recovery, the derivatives market did not indicate
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