RATE Group | Bitcoin Futures Traders Flipping Bullish Bias as Price Drops after Filling CME Gap
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Bitcoin Futures Traders Flipping Bullish Bias as Price Drops after Filling CME Gap

24 Jan Bitcoin Futures Traders Flipping Bullish Bias as Price Drops after Filling CME Gap

Posted at 08:11h in Bitcoin News by

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Bitcoin futures prices are skewed from the spot prices as they are settled in a later time and operate with a different setting. The CME charts are further different due the closing of the exchange during the weekend.

The bullish CME  around $8900 has been ‘just’ filled as the price makes a downturn during the same time. The next bearish Gap at CME is around $7,700.

cme bitcoin futures gap
Bitcoin Futures Daily Price Chart on CME (TradingView)

Positions on Derivatives Exchanges

In the last 24 hours, accroding to Datamish, about $30 million in longs have been liquidated at BitMEX. Nevertheless, the funding rate on the exchange is still positive.

bitmex funding rate
Bitcoin Contracts Funding and Premium Rate at Bitfinex (TradingView)

The Open Interest (OI) on Huobi has been dropping for the last couple of days. Moreover, the position of traders has a strong short inclination on the exchange as well.

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Bitcoin Derivatives Position on Huobi

Similarly on Okex as well, the OI is dropping to pre-euphoric…

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