Main takeout:
Bitcoin is less than $ 110,000 due to macroeconomic uncertainty and NVIDIA’s import CAP risk appetite.
Powerful Spot BTC ETF inflow and bitcoin option data are a hint that US economic clarity can unlock the BTC best.
Investor sentiment was improved on May 26 after US President Donald Trump delayed 50% of the Retaliation of the European Union for imports. The European stock market responded positively to development, but BTC (Bitcoin) could not have $ 110,000, and traders questioned whether they were within the newest level of reach.
Even if Bitcoin visits $ 105,000 again, the institutional interests and strong derivatives markets indicate that strong merchants are not excessively or concerned about potential modifications.
As the BTC Future Premium proved on May 26, the demand for long bitcoin positions increased. It increased to 8%on May 26. This rose slightly from 6.5%the day before, but Metric is still comfortable within 5%to 10%neutral range. In the context, Bitcoin futures premium soared to 20%when BTC exceeded $ 100,000 in December 2024.
Will NVIDIA imports and US economic data burn Bitcoin prices?
The decision to postpone the EU import tariff by President Trump by July 9 has reduced market uncertainty, but the extensive economic results of continuous tariff conflict have not yet been found in corporate income. Investor risk appetite is now partially depends on NVIDIA (NVIDIA) ‘s May 28 import reports, and expectations can be explained that Bitcoin cannot penetrate its previous maximum.
The Bitcoin option market is increasing the probability of upward exercise. This suggests that despite BTC transactions, whales and market manufacturers maintain confidence.
DELTA SKEW negative 6% Bitcoin options are traded at discounted PUT options, which represent typical characteristics of the optimistic market. Reading close to 0 reflects the balanced demand between PUT and Call options. It was observed on May 25.
Continuous institutional demand for Bitcoin is likely to gradually change risk recognition among the world’s largest investment companies. The company’s strategy, Michael Saylor’s strategy, acquired Bitcoin worth $ 427 million, an average of $ 106,237 between May 19 and May 25. Meanwhile, the SPOT BITCOIN Exchange Trade Fund (ETF) has seen additional $ 27.5 billion in inflow over the same period.
On May 19, during the annual investor day of JPMORGAN, Jamie Dimon announced that the bank will finally allow customers to purchase SPOT BITCOIN ETFs. This measure does not include custody or official recommendations for Cryptocurrencies, but opens the door to indirect bitcoin exposure to the bank’s $ 6 trillion customer deposit.
relevant: Bitcoin’s new highest might have been led by the Japanese bond market crisis.
The US market is closed on May 26, observing Memorial Day vacation. As a result, continuous concerns over the threat of US government debt and potential economic recession can lead to optimism due to the delayed US -EU tariffs. The last 5.1% decrease in the MBA mortgage application formed on the week, which ended on May 23, stimulated traders to adopt more careful positions.
Bitcoin derivatives metrics are maintained healthy, but the upcoming economic data will be important for market sentiment. Investors are closely watching Richmond Fed Manufacturing Index on May 28 and seeing PCE inflation data on May 30, which will affect the possibility of violating Bitcoin in danger appetite and in the short term.
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.