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Bitcoin: Are long-term trades back in full swing? This data suggests that…

Press Releases Crypto News AMB-Crypto Bitcoin: Are long-term trades back in full swing? This data suggests that…

Bitcoin could be transitioning from a preference for short-term to long-term gains.
Leverage traders back off after recent liquidations.

Bitcoin [BTC] traders have been waiting for signs that could indicate that the cryptocurrency was making the switch from short-term profit-taking to a long-term outlook. At press time, the market showed some signs that the switch might already be in effect.

How many are 1,10,100 BTCs worth today

Recent market data indicated that Bitcoin trades executed in the options (derivatives) segment have been shifting in favor of a long-term outlook. The assessment of recent options trades revealed that quite a substantial number of trades focus on long-term trades rather than short-term profits.

Even though the ETF news is over, there will not be any substantial benefits soon and the hype has come to an end. But BTC did attract market fund, with price up $1,000 compared to last week, while other coins were weaker.
And looking at the options data, bets on longer-term up… pic.twitter.com/kq9NNuojG5

— Greeks.live (@GreeksLive) October 18, 2023

Bitcoin demand in the derivatives segment often aligns with the sentiment in the spot market. Hence, the surge in derivatives demand can be used as a yardstick to assess the current state of the market. So, let’s take a look at how Bitcoin’s derivatives metrics have been fairing.

Bitcoin sees some recovery

BTC’s open interest in the derivatives market dipped considerably in August. However, it has since recovered by a considerable margin. However, it did witness a slowdown since mi

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Author: Michael Nderitu

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