{"id":177262,"date":"2021-02-13T04:27:37","date_gmt":"2021-02-13T01:27:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/key-bitcoin-price-metric-signals-traders-are-positioned-for-50k-btc\/"},"modified":"2021-02-13T04:27:37","modified_gmt":"2021-02-13T01:27:37","slug":"key-bitcoin-price-metric-signals-traders-are-positioned-for-50k-btc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/key-bitcoin-price-metric-signals-traders-are-positioned-for-50k-btc\/","title":{"rendered":"# Key Bitcoin price metric signals traders are positioned for $50K BTC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41cad51a7da\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41cad51a7da\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/key-bitcoin-price-metric-signals-traders-are-positioned-for-50k-btc\/#Staking_could_be_capturing_top_traders\" >Staking could be capturing top traders<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Key Bitcoin price metric signals traders are positioned for $50K BTC <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/bitcoin-btc\">BTC<\/a>) price posted a 25% gain after this week\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of Tesla\u2019s $1.5 billion BTC investment came out. Prior to this reveal, BTC was lagging behind Ether\u2019s (ETH) performance by 7.5% but the numerous bullish events of the past few days helped BTC to hit a new all-time high at $48,900.<\/p>\n<p>Previous to Tesla\u2019s announcement, BTC price was trading in the $30,000 to $41,500 range for nearly 3 weeks and once the price broke out one would expect pro traders and arbitrage desks to follow the bullish trend.<\/p>\n<p>Rather than flipping long, many of the top traders opened short positions as BTC commenced its 25% move. This seems risky given that this week Bitcoin received praises from JPMorgan\u2019s co-president and regulators <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rove a BTC ETF approval in Canada.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/77cd359a-146f-4a2a-ab36-9f4d0154ce07.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin and Ether USD prices at Bitstamp. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.digitalassetsdata.com\/\"><em>NYDIG Digital Assets Data<\/em><\/a><\/figcaption><\/figure>\n<p>Historical data shows that Bitcoin price actions tend to trade in tandem with Ether, which has been strongly bullish for months. Adding to this bullish scenario, Bitcoin&#8217;s Lightning Network announced a record node count and the total value locked (TVL) surpassed $42 million.<\/p>\n<p>Mastercard also announced that it would support cryptocurrency payments on its network by the end of 2021.<\/p>\n<p>These bullish signals contrast with the long-to-short net positioning metrics provided by major cryptocurrency exchanges.<\/p>\n<p>This indicator is calculated by analyzing the client&#8217;s consolidated position on the spot, perpetual and futures contracts and it provides a clearer view of whether professional traders are leaning bullish or bearish.<\/p>\n<p>It is important to note that there are occasional discrepancies in the methodologies between various exchanges, so viewers should monitor changes instead of absolute figures.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/dd9f6198-8be0-4040-bc3e-9592e7f70d7a.png\"><figcaption style=\"text-align: center;\"><em>Exchange\u2019s top traders BTC long-to-short ratio. Source: Bybt.com<\/em><\/figcaption><\/figure>\n<p>Since Feb. 8, when the Tesla announcement took place, exchanges&#8217; top traders have kept their net positions relatively unchanged. <\/p>\n<p>Before Bitcoin&#8217;s 25% rally, Binance had a 1.33 ratio favoring longs, which is in line with the previous week. This indicator peaked at 1.53 on Feb. 10, but has since then returned to 1.31.<\/p>\n<p>On the other hand, Huobi top traders had a 0.74 indicator ahead of Feb. 8, which remained flat for three days. On Feb. 11 as BTC rallied from $44,000 to $48,000, these traders began increasing net longs, reaching the current 0.80. Although this level is still favoring net shorts by 20%, it remains above the 0.75 level from Jan. 29.<\/p>\n<p>Lastly, OKEx top traders held a 14% net long position before the Tesla news came out. Although they&#8217;ve reverted to a 47% net short position on that same day, over the last four days the indicator has come back to 1.03. Currently, OKEx traders remain well below the 52% net long position from two weeks ago.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Staking_could_be_capturing_top_traders\"><\/span>Staking could be capturing top traders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Top traders could have also moved their BTC off-exchange in search of better yield opportunities. Therefore, assuming that they&#8217;ve entered short positions solely by monitoring centralized exchanges&#8217; could be a brash conclusion to reach.<\/p>\n<p>As things currently stand, the long-to-short indicator does not show extreme net long positions from arbitrage desks, market makers, and whales. A balanced derivatives market suggests that there\u2019s ample room for buying activity if BTC continues to rally to $50,000 and above.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/noshitcoins\"><em>autho<\/em><em>r<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/key-bitcoin-price-metric-signals-traders-are-positioned-for-50k-btc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Key Bitcoin price metric signals traders are positioned for $50K BTC &#8221; Bitcoin (BTC) price posted a 25% gain after this week\u2019s news of Tesla\u2019s $1.5 billion BTC investment came out. Prior to this reveal, BTC was lagging behind Ether\u2019s (ETH) performance by 7.5% but the numerous bullish events of the past few days&#8230;<\/p>\n","protected":false},"author":1,"featured_media":177263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNThlNDBkNGQtNWY2Ny00YmY5LTgzN2ItM2Q3YzkwNDgxN2Y1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74972,74937,74863,75012,74939,73785],"class_list":["post-177262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-futures","tag-bitcoin-price","tag-cryptocurrencies","tag-derivatives","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=177262"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/177263"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=177262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=177262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=177262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}