CME Bitcoin derivative traders had ‘paper hands’ as BTC broke $55K — Report
Traders wound up their long Bitcoin derivatives contracts ahead of the October price rally, ignoring solid on-chain fundamentals.
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Traders wound up their long Bitcoin derivatives contracts ahead of the October price rally, ignoring solid on-chain fundamentals.
Hash rate, supply shock and U.S. credit risk are likely the causes for the BTC rally.
It’s a classic euphoria setup on Bitcoin markets Thursday as traders flip long BTC in ever larger numbers.
On paper, EOS has great fundamentals, but derivatives markets suggest traders don’t feel the same about the altcoin’s price potential.
The successful launch of the long-awaited Columbus-5 upgrade is just one of the factors in LUNA’s ascension to a new record high.
Bitcoin has surged above the overhead resistance and that has pulled several altcoins higher.
BTC price broke out of its multi-month long range, securing a daily close above $50,000 and prompting traders to extend their short-term target to $56,000.