Main takeout:
The BTC recorded $ 97,900 due to a surge in institutional investor demand, but futures prices show that merchants are not convinced of ongoing meetings.
The risk of macroeconomic risks and global trade tensions are damaged despite $ 3.6 billion in the inflow of SPOT BTC ETF.
The BTC option is optimistic and optimistic, so a big player is expected to rise, but if you pay attention, keeps the use of leverage.
Bitcoin (BTC) is a 6 -day limited exercise on May 1 and came from a strict transaction range between $ 93,000 to $ 95,600. According to the BTC derivative indicators, the emotions are neutral, despite the highest price for 10 weeks for $ 97,930. This price has occurred with a significant net inflow with the US Spot Exchange Bitcoin Fund (ETF).
Some of the disappointment among traders may be due to ongoing global tariff disputes, which began to affect macroeconomic data. Bitcoin Traders are concerned that even if institutional investors’ interests increase, fear of economic recession can limit price performance. This problem reduces the likelihood that the BTC will reach more than $ 110,000 in 2025.
The annual premium of Bitcoin’s two -month future was maintained from 6%to 7%over last week, maintaining from 5%to 10%within the neutral range of neutral range. Bitcoin is nearly $ 95,000 and merchants’ feelings have weakened compared to January, when futures premiums are more than 10%. This data suggests that there are few optimism or at least guilty rulings due to an additional price increase of $ 100,000 or more.
Gold’s performance surpasses Bitcoin’s humble interests.
Some market participants point out the 20% rally of GOLD from $ 2,680 to $ 3,220 as a source of concern. Bitcoin has recently become the seventh largest global trading asset, exceeding Silver’s $ 1 trillion market cap, but GOLD has darkened this performance due to mass evaluation of $ 21.7 trillion. Investors are concerned that the strong correlation with Bitcoin’s stock market has reduced the attractiveness of the “digital gold” story.
In the last two weeks, the ETF is likely to be led by the delta neutral strategy. In this scenario, the flow reflects the Bitcoin Holder, which moves to the listed products or uses derivatives for hemp. If so, the direct impact on the price is limited, which is consistent with the appropriate 5% increase in Bitcoin during this period.
It is helpful to investigate the BTC option market to check whether a professional trader is familiar with about $ 97,500.
BTC options 25% DELTA SKEW Metric is currently the lowest level since February 15. This indicates that whales and market manufacturers have a greater chance of rising more. This represents a rapid reversal three weeks ago when the PUT (SELL) option is traded as a premium.
relevant: The economic downturn is not clear, the US-China customs dialogue begins.
The elasticity of Bitcoin derivatives prefers more BTC prices.
Overall, bitcoin derivatives represent medium -level optimism. Traders generally expect additional prices to rise, but bulls do not use leverage. Some may argue that this creates an ideal condition for amazing rally because it did not significantly affect BTC derivatives on April 9th.
The most important factor that affects the performance of Bitcoin is the commercial relationship between the United States and China. As long as the trade war continues, Bitcoin will continue to track the S & P 500 movement. This environment can prevent Bitcoin from reaching a new all -time high in the short term, but BTC derivatives have some expectations for the bull.
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.