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Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Published 06/14/2021, 07:40 PM
Updated 06/15/2021, 03:00 AM
Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Sometimes all Bitcoin (BTC) needs to pump 10% is a positive remark from someone like Elon Musk.

The Tesla (NASDAQ:TSLA) CEO has been pointed to as the culprit for the recent downturn after the company’s May 12 announcement explaining that it would no longer accept Bitcoin payments due to environmental concerns. Musk followed up by saying that he was looking into other cryptocurrencies that required 99% less energy consumption.

Bitcoin price at Coinbase in USD, Sept. 2020. Source: TradingView
Huobi 3-month Bitcoin futures basis. Source: Skew
Deribit Bitcoin options 25% delta skew. Source: laevitas.ch

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