Bitcoin Derivatives Market Power Recovery Points To Potential Bullish Reversal
The post Bitcoin Derivatives Market Power Recovery Points To Potential Bullish Reversal appeared on BitcoinEthereumNews.com. Bitcoin’s ($BTC) Derivatives Market Power (DMP) has recently presented a significant recovery following a slump to significantly low levels. As per the data from Axel Adler Jr, the Derivative Market Power of Bitcoin ($BTC) has rebounded to -429K mark after plunging to -559K. As the prominent crypto analyst mentioned on social media, this shift reportedly suggests a gradual calming of bear pressure in the market. In addition to this, the respective trend also gets support from other indicators, including funding rates, unwinding short positions, as well as shrinking taker order polarity. Over the past few days, Derivative Market Power has bounced back from extremely low levels. After crashing to −559K, the index rose to −420K, reflecting the strongest bear pressure since April 2021. This pressure is now gradually easing: funding rates are softening, taker order… pic.twitter.com/P4O21guIZD — Axel
The post Bitcoin Derivatives Market Power Recovery Points To Potential Bullish Reversal appeared on BitcoinEthereumNews.com.
Bitcoin’s ($BTC) Derivatives Market Power (DMP) has recently presented a significant recovery following a slump to significantly low levels. As per the data from Axel Adler Jr, the Derivative Market Power of Bitcoin ($BTC) has rebounded to -429K mark after plunging to -559K. As the prominent crypto analyst mentioned on social media, this shift reportedly suggests a gradual calming of bear pressure in the market. In addition to this, the respective trend also gets support from other indicators, including funding rates, unwinding short positions, as well as shrinking taker order polarity. Over the past few days, Derivative Market Power has bounced back from extremely low levels. After crashing to −559K, the index rose to −420K, reflecting the strongest bear pressure since April 2021. This pressure is now gradually easing: funding rates are softening, taker order… pic.twitter.com/P4O21guIZD — Axel
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