Bitcoin traders’ bullish bias remains firm even as BTC price drops to $37,000

BTC correction revealed A disconnect between pro traders' trust And retail investors skepticism in the middle of regulatory changes.

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Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but confronted formidable resistance has THE price level. On Nov. 27, Bitcoin price negotiated below $37,000, which East unchanged Since A week There is.

What East eye-catching East THE unshakable strength of BTC derivatives, which signals that bulls stay farm In their intentions.

A intriguing development East deployment In China as Attached (USDT) professions below It is fair value In THE local currency, THE yuan. This divergence often jumpscares due has different expectations between professional traders engaged In derivatives And retail clients implied In THE place market.

How to have regulations impacted Bitcoin derivatives?

HAS gauge THE exposure of whales And arbitration offices using Bitcoin derivatives, A must assess BTC choice volume. By examine THE put (sell) And call (buy) options, We can estimate THE prevailing bullish Or bearish feelings.

Deribute BTC choice call volume report. Source: Laevitas

From Nov. 22, put choice to have regularly late behind call choice In volume, by A average of 40%. This suggests A decreases request For protective measures — A surprising development given THE intensified regulatory meticulous examination following Binance advocacy agreement with THE United States Department of Justice (DOJ) And THE WE. Securities And Exchange Commissions