• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
bitcoin price trading sentiment bullish
Nexo

Latest Bitcoin Futures Market Data Signals Bullish Price Action

Martin Young by Martin Young
3 years ago
in Bitcoin News, Bitcoin, Bitcoin Price
0

As bitcoin price remains in its range-bound channel, other indicators are slowly turning bullish for the king of crypto. BTC has held on to five figures as we begin the weekend and bigger things could be in store as open interest mounts up.


Binance and BitMEX Building Up Bitcoin

Looking at on-chain flows for the past 24 hours shows positive action going on at a number of the world’s largest exchanges. The inflow has exceeded the outflow of bitcoin on Binance, BitMEX and Bitstamp indicating that accumulation has started to occur.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

🚨 24H BTC exchange on-chain flows:#binance: $83M in | $69M out#bitmex: $37M in | $10M out#bitfinex: $8M in | $56M out#bitstamp: $65M in | $34M out#bittrex: $2M in | $3M out#poloniex: $1M in | $4M out

See more at https://t.co/u90eafRrXh

— TokenAnalyst (@thetokenanalyst) September 6, 2019

While prices across the board have taken a slight dip over the past 24 hours, bitcoin price remains relatively stable within its consolidation range. Since the same time, last Saturday BTC has gained almost 8% but has yet to form a clear direction.

That could be all about to change as the futures market heats back up. Open interest is a measure total number of outstanding futures contracts that have not been settled for an asset. It provides a good picture of trading activity and direction of monetary flow.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

For BitMEX at least it is the fourth time this summer that OI has reached $1 billion which is a bullish signal.

Bitmex open interest – 4th attempt this summer > $1bln

Fasten your seatbelt! pic.twitter.com/cE9m43PX16

— skew (@skew_markets) September 6, 2019

Yesterday, crypto trader ‘Cantering Clark’ noted that overall OI was almost the highest it has been this year so, despite the sideways price action, bitcoin appears to be generating momentum.

“Almost the highest OI that we have had all year. I tell you what, this area is either going to be one hell of a base or one hell of a trap.”

Almost the highest OI that we have had all year. I tell you what, this area is either going to be one hell of a base or one hell of a trap. $BTC pic.twitter.com/7uqgxAgpG0

— Cantering Clark (@CanteringClark) September 6, 2019

BTC dominance is also at a two year high this week as it topped 73% according to Tradingview.com. Back when bitcoin market share was at a similar level it was priced around $2,500 with a market cap of roughly $40 billion. A lot has changed since then with BTC prices and market cap being four times higher now.

All of this action may have been driven by Bakkt which has just activated its warehouse custody services in preparation for final futures launch later this month.

“Now accepting customer bitcoin deposits and withdrawals. Only 17 days until the Bakkt Daily and Monthly Futures contracts launch on Sep 23.”

Bakkt Warehouse custody is live.

Now accepting customer bitcoin deposits and withdrawals. Only 17 days until the Bakkt Daily and Monthly Futures contracts launch on Sep 23.

— Bakkt (@Bakkt) September 6, 2019

As we have seen every time bitcoin price drops into four figures, it does not remain there very long. A large amount of accumulation is clearly happening and a lot of it could be in anticipation of further institutional interest in Q4 this year.

Will bitcoin price surge later this year? Add your thoughts below.


Images via Bitcoinist Image Library, Twitter: @thetokenanalyst, @skew_markets, @CanteringClark, @Bakkt

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Microstrategy

MicroStrategy Stock Rallies 10% As CEO Saylor Predicts Bitcoin Will ‘Go Into The Millions’

35 mins ago
CoinCorner's the Bolt Card, promotional image

The UK Goes Lightning: CoinCorner Offers The Bolt Card, Contactless BTC Payments

6 hours ago
Argentina

Argentina NGO Spearheads Mission To Educate High Schoolers About Crypto

24 hours ago
Russia

Russia To Legalize Cryptocurrency As Form Of Payment, Minister Says

1 day ago
Bitcoin

Bitcoin Open Interest Nosedives, But All Hope Is Not Lost

2 days ago
USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.