Pro traders avoid Bitcoin longs while cautiously watching DXY strengthen By Cointelegraph

Pro traders avoid Bitcoin longs while cautiously watching DXY strengthen By Cointelegraph


Pro traders avoid Bitcoin longs while cautiously watching DXY strengthen

(BTC) price might have re-established $50,000 as a support, but the optimism of professional traders is nowhere near the levels seen before the 26% drop to $43,000 on Feb. 28.

The current scenario is far from bearish, but derivatives indicators do not reflect the substantial purchases from institutional clients, including Microstrategy (NASDAQ:), Meitu, and most recently, Aker ASA, a Norweigian oil conglomerate.

Bitcoin price, USD. Source: TradingView
BTC futures contracts aggregate liquidations. Source: Bybt.com
OKEx 3-month BTC futures basis. Source: Skew.com
BTC options 25% delta skew. Source: laevitas.ch