{"id":519723,"date":"2023-02-15T12:30:37","date_gmt":"2023-02-15T12:30:37","guid":{"rendered":"https:\/\/wncen.com\/?p=519723"},"modified":"2024-06-11T11:04:26","modified_gmt":"2024-06-11T11:04:26","slug":"quant-explains-bitcoin-derivatives-data-trading","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/quant-explains-bitcoin-derivatives-data-trading\/","title":{"rendered":"Quant Explains How Bitcoin Derivatives Data Can Be Used For Trading"},"content":{"rendered":"

A quant has explained how the data of the Bitcoin derivatives indicators like open interest and liquidations can be leveraged as a short-term trading tool.<\/p>\n

Bitcoin Derivatives Market Data As A Short-Term Trading Tool<\/h2>\n

As explained by an analyst in a CryptoQuant post<\/a>, yesterday’s price action was a good example of how the futures market influences the value of the cryptocurrency. There are two relevant indicators here. The first is the “open interest<\/a>,” which measures the total amount of Bitcoin futures contracts that are currently open on all derivative exchanges.<\/p>\n

When the value of this metric trends up, it means investors are opening up more contracts on the futures market currently. Since more contracts generally accompany increased leverage<\/a> as well, the open interest going up can cause a higher amount of volatility for the BTC price.<\/p>\n

On the other hand, decreasing values of the indicators imply holders are closing up their contracts or getting forcefully liquidated right now. As this naturally leads to lower leverage in the market, BTC could follow up with less volatility.<\/p>\n

The other metric of interest here is the “long\/short liquidations<\/a>,” which measures the total amount of long\/short contracts (in USD) that are being forcefully closed off by exchanges as a result of investors accumulating losses that have eaten away a specific percentage of their collateral.<\/p>\n

Related Reading: Here\u2019s What\u2019s Needed For The Bitcoin Rally To Resume<\/a><\/div>\n

Now, here is a chart that shows the zoomed-in trend of the Bitcoin open interest and futures liquidations, as well as the BTC price, during the action seen yesterday:<\/p>\n

\"Bitcoin<\/p>\n

How the activity in the futures market has resulted in the price action seen yesterday | Source: CryptoQuant<\/a><\/pre>\n
In the above graph, the quant has marked how the Bitcoin open interest and futures liquidations (both long and short) related to the price of the cryptocurrency through each portion of yesterday’s burst of price action.<\/p>\n
At first, the price was going down, but the open interest was increasing in value, suggesting that short positions were piling up on the market. Then, in a sudden upwards price move, a large amount of these shorts were liquidated, which only fueled the price surge further.<\/p>\n
Related Reading: Ethereum Exchange Supply Has Fallen 37% Post Merge: Santiment<\/a><\/div>\n
Naturally, the open interest declined as this move took place, because of all the short liquidations. After this steep climb, the price fell back to sideways movement, but the open interest started climbing. The analyst notes that this suggests investors had begun to open up long positions because of FOMO induced by the sudden rise.<\/p>\n
Finally, the Bitcoin price reversed its direction, resulting in these now piled-up longs getting liquidated in the same way as shorts did earlier, which again only amplified the move and caused BTC to see an extended drawdown.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $22,100, down 4% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC continues to be stuck in a range | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Traxer on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
A quant has explained how the data of the Bitcoin derivatives indicators like open interest and liquidations can be leveraged as a short-term trading tool. Bitcoin Derivatives Market Data As A Short-Term Trading Tool As explained by an analyst in a CryptoQuant post, yesterday’s price action was a good example of how the futures market influences the value of the cryptocurrency. There are two relevant indicators here. The first is the “open interest,” which measures the total amount of Bitcoin futures contracts that are currently open on all derivative exchanges. When the value of this metric trends up, it means investors are opening up more contracts on the futures market currently. Since more contracts generally accompany increased leverage as well, the open interest going up can cause a higher amount of volatility for the BTC price. On the other hand, decreasing values of the indicators imply holders are closing up their contracts or getting forcefully liquidated right now. As this naturally leads to lower leverage in the market, BTC could follow up with less volatility. The other metric of interest here is the “long\/short liquidations,” which measures the total amount of long\/short contracts (in USD) that are being forcefully closed off by exchanges as a result of investors accumulating losses that have eaten away a specific percentage of their collateral. Related Reading: Here\u2019s What\u2019s Needed For The Bitcoin Rally To Resume Now, here is a chart that shows the zoomed-in trend of the Bitcoin open interest and futures liquidations, as well as the BTC price, during the action seen yesterday: How the activity in the futures market has resulted in the price action seen yesterday | Source: CryptoQuant In the above graph, the quant has marked how the Bitcoin open interest and futures liquidations (both long and short) related to the price of the cryptocurrency through each portion of yesterday’s burst of price action. At first, the price was going down, but the open interest was increasing in value, suggesting that short positions were piling up on the market. Then, in a sudden upwards price move, a large amount of these shorts were liquidated, which only fueled the price surge further. Related Reading: Ethereum Exchange Supply Has Fallen 37% Post Merge: Santiment Naturally, the open interest declined as this move took place, because of all the short liquidations. After this steep climb, the price fell back to sideways movement, but the open interest started climbing. The analyst notes that this suggests investors had begun to open up long positions because of FOMO induced by the sudden rise. Finally, the Bitcoin price reversed its direction, resulting in these now piled-up longs getting liquidated in the same way as shorts did earlier, which again only amplified the move and caused BTC to see an extended drawdown. BTC Price At the time of writing, Bitcoin is trading around $22,100, down 4% in the last week. BTC continues to be stuck in a range | Source: BTCUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":519727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,517,84667,768,1119,1144],"class_list":["post-519723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-derivatives","tag-bitcoin-open-interest","tag-bitcoin-trading","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nQuant Explains How Bitcoin Derivatives Data Can Be Used For Trading<\/title>\n<meta name=\"description\" content=\"A quant has explained how the data of the Bitcoin derivatives indicators like open interest and liquidations can be leveraged as a short-term 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Quant Explains How Bitcoin Derivatives Data Can Be Used For Trading","url":"http:\/\/wncen.com\/news\/quant-explains-bitcoin-derivatives-data-trading\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/quant-explains-bitcoin-derivatives-data-trading\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/traxer-Arg75lEWn2A-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/traxer-Arg75lEWn2A-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin derivatives","bitcoin open interest","bitcoin trading","btc","btcusd"],"dateCreated":"2023-02-15T12:30:37Z","datePublished":"2023-02-15T12:30:37Z","dateModified":"2024-06-11T11:04:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Quant Explains How Bitcoin Derivatives Data Can Be Used For Trading\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/quant-explains-bitcoin-derivatives-data-trading\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/quant-explains-bitcoin-derivatives-data-trading\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/traxer-Arg75lEWn2A-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/traxer-Arg75lEWn2A-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin derivatives\",\"bitcoin open interest\",\"bitcoin trading\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-02-15T12:30:37Z\",\"datePublished\":\"2023-02-15T12:30:37Z\",\"dateModified\":\"2024-06-11T11:04:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/traxer-Arg75lEWn2A-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=519723"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/519727"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=519723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=519723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=519723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}