that it may not yet be time for investors to jubilate. The analysis used the Bitcoin futures market to maintain its position of a cautious take.
Additionally, as of yesterday , BTC recorded its highest liquidation volume since late July. Reportedly, the exchange inflow spent output volume bands revealed that many Bitcoin addresses moved their holdings to exchanges. In this regard, t“Exchange Inflow Spent Output Value Bands , which shows the percentage value of the coins moving into exchanges, indicate 1K to 10K BTC holders moved their coins to exchanges more than usual.”amounted to $15.
Long position liquidated was 48,72%, while shorts were 51.28%. On the other hand, the BTC futures open interest rate has increased since July, meaning that traders have been actively trading the BTC market.There has been a total of $13.81 billion in futures trades at press time. So does this interest uptick mean traders were shorting Bitcoin in line with the CryptoQuant projections?With BTC closing in on $25,000 for a while, investors may expect it to hit the milestone soon.
Although the AO remained above the histogram midpoint with a bullish edge, the current state also shows bearish twin peaks.Interestingly, investors may need to halt BTC from reaching $25,000 optimism as the Bollinger Bands showed high volatility. With Bitcoin not entirely all over the bears, it may be time for investors in the overall crypto market to watch where the market movement resides next.Subscribe to get it daily in your inbox.