2 key Bitcoin price indicators show pro traders are waiting for $36K

2 key Bitcoin price indicators show pro traders are waiting for $36K

Bitcoin (BTC) recently reclaimed $35,000 but top traders at Huobi, OKEx, and Binance are not buying the breakout. Unlike the savvy institutional investors who may be desperate for protection against the debasement of fiat, the more crypto-focused investors seem to be waiting for dips.

Institutional investors might also be celebrating the Jan. 4 announcement that the Office of the Comptroller of the Currency (USOCC) would allow banks to include stablecoins in bank-permissible functions. This further validates the crypto sector and may result in a rise in institutional participation in the space.

Typically, after a new all-time high is achieved, Bitcoin price pulls back as some traders take profits and bears consider opening short positions near the new ‘top’.

Trending: Here’s Why It’s Not Over….and Why It Always Had To Be The Military

Crypto-focused traders are well aware of Bitcoin’s volatility and the recent dip to $27,000 serves as a perfect example.

To effectively measure how crypto-focused traders have been positioning themselves, investors should monitor the top traders’ long-to-short ratio at leading crypto exchanges.

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend