₿roken UTXO
₿roken UTXO 2 minutes reading from Bitcoin

$BTC: The Long Pressure On The Bitcoin Price

BTC sustain above 20.5 good price. Under, bad.

Bit of fuckery going on with futures premiums. Don't know exactly what to make of it but on balance not observing significant short pressure.

Only point need to becomes more favorable is sustain above 20.5 and funding turn negative.

rates been a bit autistic on bi-polar spectrum.

back to forward futures premium.

this is what I mean by no strong short pressure.

notable divergences in contracts price vs spot (the baseline, 0)

liquidity over time seem to have returned to the bid side.

Some weakness under 20.0-19.1 but it definitely evolved over the weekend.

there is more demand in between than previously.

👀 BTC swaps keep trading under & above spot.

degens equally prone to exposed towards long or short side.

As long Binance & OKEX in particular remain negative is a good thing for upside.

However, we see that OKEX still quite not sure what they want.

so we 🦀

Binance orderbooks showing more clear sell pressure liquidity than the coinbase books tweeted above.

This post is based on this twitter thread.


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