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2 key Bitcoin price indicators show pro traders are waiting for $36K

Published 01/06/2021, 01:13 PM
Updated 01/06/2021, 03:00 PM
2 key Bitcoin price indicators show pro traders are waiting for $36K

Bitcoin (BTC) recently reclaimed $35,000, but top traders at Huobi, OKEx and Binance are not buying the breakout. Unlike the savvy institutional investors who may be desperate for protection against the debasement of fiat, the more crypto-focused investors seem to be waiting for dips.

Institutional investors might also be celebrating the Jan. 4 announcement that the Office of the Comptroller of the Currency will allow banks to include stablecoins in bank-permissible functions. This further validates the crypto sector and may result in a rise in institutional participation in the space.

Top traders BTC long/short ratio. Source: Bybt.com
BTC perpetual futures funding rates. Source: Digital Assets Data

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Latest comments

that didn't take long. >$36K now
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