{"id":417685,"date":"2020-03-11T01:00:35","date_gmt":"2020-03-11T01:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=417685"},"modified":"2024-06-11T11:19:19","modified_gmt":"2024-06-11T11:19:19","slug":"bitcoin-futures-and-options-volume-is-surging-expect-an-explosive-movement","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-futures-and-options-volume-is-surging-expect-an-explosive-movement\/","title":{"rendered":"Bitcoin Futures and Options Volume is Surging; Expect an Explosive Movement"},"content":{"rendered":"
Bitcoin (BTC) and the aggregated cryptocurrency markets have been trading sideways over the past day, with bulls\u2019 attempt earlier today to recapture $8,000 proving to be fleeting due to an abundance of selling pressure within this price region.<\/p>\n
It now appears that big traders are anticipating Bitcoin to make a massive movement in the days ahead, as the cryptocurrency\u2019s CME Futures volume is climbing to levels not seen since the benchmark cryptocurrency began its descent from highs of $10,500.<\/p>\n
Data regarding Bitcoin\u2019s options volume also seems to confirm this notion, as it just hit a fresh all-time high.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up just under 2% at its current price<\/a> of $7,950, which marks a notable climb from recent lows of $7,600 and a slight decline of daily highs within the lower-$8,000 region that were set earlier this morning.<\/p>\n Today\u2019s bout of consolidation comes close on the heels of the recent selloff that sent BTC reeling down from the upper-$8,000 region, with its latest decline marking an extension of the downwards momentum that was first incurred in late-February when Bitcoin faced a harsh rejection at $10,000.<\/p>\n In the near-term, it is imperative for bulls to continue defending the $7,700 region, as the break above this level in January is where many analysts believe its market structure first became bullish.<\/p>\n If buyers are able guard against a drop below this level, it is probable that they will be able to catalyze enough buying pressure to push BTC higher.<\/p>\n In the near-term, two factors that could suggest an intense movement is coming is the fact that Bitcoin\u2019s CME Futures volume and options volume is spiking.<\/p>\n Over the past 24-hours, Bitcoin\u2019s CME Futures trading volume<\/a> skyrocketed to over $400m, a level not seen since late-February when the cryptocurrency\u2019s bullish market structure first started degrading.<\/p>\nFutures and Options Volume May Suggest BTC is About to Make a Massive Movement<\/strong>\u00a0<\/strong><\/h2>\n