Bitcoin (BTC) reached $ 99,500 in the highest level in two weeks on February 21, but failed to maintain strong. This movement may be partly because of lack of passion in Bitcoin’s derivative market. Traders were reluctant to open their position since they were rejected for $ 102,000 on February 3.
Bitcoin 1 month gift annual premium. Source: LAevitas.ch
Bitcoin futures premiums generally change between 5% and 10% in the neutral market to compensate for longer settlement periods. However, this indicator has not been optimistic since February 3, and recently, RIS
E could not cut the trend from $ 95,500 on February 19 to $ 99,500 on February 21.
The price of Bitcoin has soared for a while due to China’s adjusted M1 supply data.
In January, the amazing increase in China’s extensive M1 currency supply data triggered investor optimism briefly. However, this exercise was wrongly interpreted because the methodology was adjusted to include individual inspection accounts and retention of non -bank payment platforms such as Alipay and Wechat Pay.
China’s credit growth is published on February 14 and adds fuel to the economy, according to Yahoo Finance, when data showing new loans of financial institutions, which has increased $ 700 billion in January, in January, which is the highest level since 1992.
It is essential to analyze the BTC option market in order to evaluate whether the recent increase in bitcoin prices affected the emotions of whales and market manufacturers. If the trader predicts modifications, the PUT (SELL) option is traded as a premium and pushes 25% DELTA SKEW Metric to 6% or more. On the contrary, the period of strength will allow indicators to move less than -6%.
Bitcoin 30 Days option DELTA SKEW (PUT-CALL). Source: LAevitas.ch
The Bitcoin option market was almost excited about the recent $ 99,500 reinvestigation because the 25% delta scale indicators were maintained at 5% within the neutral range. In particular, the last optimism based on this indicator occurred when the price of Bitcoin reached $ 105,000 on January 26.
To get a wide range of understanding of the Cryptocurrency demand, you can see the Stablecoin market. In general, China’s strong interest in cryptocurrency is a premium of more than 2% compared to the US dollar ratio. In contrast, discounts often show fear as merchants rush to leave the encryption market.
USD Tether (USDT) Official USD/CNY fee. Source: OKX
China’s USDT premiums remained near 0.5%within last week’s neutral range. Like other Bitcoin derivatives metrics, Stablecoins, which was finally traded at 2% premium in China, was on February 3, indicating that merchants were greatly forgotten for $ 100,000 at a recent price.
Mixed feelings according to President Trump’s choice of cabinet
The decline in demand for traders was reported to have been canceled when the administration chose an unofficial summit with a failed attempt to maintain more than $ 98,000 for two consecutive weeks and the disappointment of President Trump’s cryptocurrency. Similarly, there was an excessive excessive advertisement of the potential creation of strategic Bitcoin protection zones.
Positive words, the US Securities and Securities Exchange Commission announced the intention to withdraw allegations of coinbase, showing a favorable regulatory environment. In addition, Howard Lutnick, former CEO of Cantor Fitzgerald, has been identified as the US Commerce Minister. Lutnick is a vocal Bitcoin supporter that increases the hope of traders for institutional acceleration.
Despite the relatively low interest in Bitcoin, as investors gradually recognize the hedge of cryptocurrency on inflation and censorship, there are still constructive scenarios of the all -time high.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.