Key Bitcoin price metric signals traders are positioned for $50K BTC By Cointelegraph

Key Bitcoin price metric signals traders are positioned for $50K BTC

CryptocurrencyFeb 13, 2021 10:20PM ET

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Key Bitcoin price metric signals traders are positioned for $50K BTC

Bitcoin (BTC) price posted a 25% gain after this week’s news of Tesla’s $1.5 billion BTC investment came out. Prior to this reveal, BTC was lagging behind Ether’s (ETH) performance by 7.5% but the numerous bullish events of the past few days helped BTC to hit a new all-time high at $48,900.

Previous to Tesla’s announcement, BTC price was trading in the $30,000 to $41,500 range for nearly 3 weeks and once the price broke out one would expect pro traders and arbitrage desks to follow the bullish trend.

Bitcoin and Ether USD prices at Bitstamp. Source: NYDIG Digital Assets Data

Exchange’s top traders BTC long-to-short ratio. Source: Bybt.com

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

US 30 Futures	33,539.5	-30.5	-0.09%
US 500 Futures	4,130.62	-2.18	-0.05%
Dow Jones	33,677.27	-68.13	-0.20%
S&P 500	4,141.17	+12.14	+0.29%
Nasdaq	13,996.10	+146.10	+1.05%
S&P 500 VIX	16.65	-0.26	-1.54%
Dollar Index	91.832	-0.312	-0.34%

Crude Oil WTI	60.62	+0.44	+0.73%
Brent Oil	63.96	-0.02	-0.03%
Natural Gas	2.623	0.000	0.00%
Gold	1,746.15	-1.45	-0.08%
Silver	25.405	-0.021	-0.08%
Copper	4.0377	-0.0013	-0.03%
US Soybeans	1,389.25	-0.13	-0.01%

SPDR S&P 500	412.86	+1.22	+0.30%
iShares Russell 2000	221.14	-0.58	-0.26%
Invesco QQQ Trust	340.60	+3.93	+1.17%
Direxion Daily Junior Gold Miners Bull 2X Shares	90.22	+3.71	+4.29%
iShares Silver	23.51	+0.47	+2.04%
ProShares Ultra VIX Short-Term Futures	4.69	-0.08	-1.68%
ProShares UltraPro QQQ	110.51	+3.66	+3.43%

Apple	134.43	+3.19	+2.43%
Alphabet A	2,254.43	+9.81	+0.44%
Tesla	762.32	+60.34	+8.60%
Amazon.com	3,400.00	+20.61	+0.61%
Netflix	553.73	+0.95	+0.17%
Facebook	309.76	-1.78	-0.57%
Bank of America	39.32	-0.74	-1.85%

Key Bitcoin price metric signals traders are positioned for $50K BTC

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