Bitcoin struggles to return $24,000 to take over, but data shows pro traders are stacking sats
BTC futures data and flat margins show whales holding steady even though bitcoin price hasn't topped $24,000.
Market analysis
Bitcoin (BTC) rallied behind the US Federal Reserve's decision to raise interest rates on July 27. Investors interpreted Federal Reserve Chairman Jeremy Powell's statement as more dovish than the previous FOMC committee meeting, suggesting that the worst time for tough economic policies is behind us.
More good news for risky assets came from the U.S. Personal Consumption Expenditure (PCE) price index, which rose 6.8% in June. The decision was the largest since January 1982, reducing incentives for fixed income investments. The Federal Reserve focuses on the PCE because of its broader measure of inflationary pressures, measuring changes in the prices of goods and services consumed by the general public.
Additional positive news came from Amazon after the e-commerce giant announced that its quarterly financial results exceeded estimated revenue of $119.5 billion by 1.4%. Additionally, Apple released its second quarter results on the same day, matching analysts' revenue estimates, while reporting earnings 3.4% above market consensus.
Top traders increased their bullish betsThe data provided by Exchange highlights the net long-short positioning of traders. By analyzing each client's position on the spot, perpetual and futures contracts, one can better understand whether professional traders are bullish or bearish.
There are sometimes discrepancies in methodologies between different exchanges, so viewers should monitor changes rather than absolute numbers.
BTC futures data and flat margins show whales holding steady even though bitcoin price hasn't topped $24,000.
Market analysis
Bitcoin (BTC) rallied behind the US Federal Reserve's decision to raise interest rates on July 27. Investors interpreted Federal Reserve Chairman Jeremy Powell's statement as more dovish than the previous FOMC committee meeting, suggesting that the worst time for tough economic policies is behind us.
More good news for risky assets came from the U.S. Personal Consumption Expenditure (PCE) price index, which rose 6.8% in June. The decision was the largest since January 1982, reducing incentives for fixed income investments. The Federal Reserve focuses on the PCE because of its broader measure of inflationary pressures, measuring changes in the prices of goods and services consumed by the general public.
Additional positive news came from Amazon after the e-commerce giant announced that its quarterly financial results exceeded estimated revenue of $119.5 billion by 1.4%. Additionally, Apple released its second quarter results on the same day, matching analysts' revenue estimates, while reporting earnings 3.4% above market consensus.
Top traders increased their bullish betsThe data provided by Exchange highlights the net long-short positioning of traders. By analyzing each client's position on the spot, perpetual and futures contracts, one can better understand whether professional traders are bullish or bearish.
There are sometimes discrepancies in methodologies between different exchanges, so viewers should monitor changes rather than absolute numbers.
What's Your Reaction?
