Although Bitcoin (BTC) can exchange 24/7 candles open and close -day -like the foreign exchange markets. The latest data from TradingView shows Tuesday’s candle that ended (UTC) at $ 106,830, the highest daily closure price.
The bullish rating comes as Investors poured money In the area that exchanged funds exchanged by the exchange (ETF) amid the chaotic price action in bond markets proposed to rise concerns about fiscal health of major economies, including the US
Analysts told CoinDesk Last week the worsening situation of fiscal debt could be well -versed for BTC and other possessions such as gold.
The Coinbase bitcoin premium indexMeasuring the percentage variation between Bitcoin prices in the Coinbase Pro (USD pair) and the price of Binance (USDT Trading Pair), remained positive, indicating an ongoing pressure of purchase from US-based investors.
With the development of the uptrend, the next key level to watch is $ 110,000. Data from the BTC Options market of the derivit, which is monitored by AMBERDATA, shows sellers or market makers holding a large net “NEGATIVE GAMMA “ exposure to $ 110,000 level.
Traders holding a negative gamma are usually trade/fence in the direction of the market to maintain their overall exposure to the Delta Neutral market. That is, it strengthens bearish and bullish moves.
In other words, the rally can accelerate with a potential breakout above the $ 110,000 mark. Market options have grown significantly over the past five years, including Adding dealer’s healing to volatility on some occasions.
