According to an analysis published in the news portal CoinTelegraph, Bitcoin and ETH operators maintain an optimistic attitude.
This is due to the fact that the price of both cryptosystems remains at a key point in the charts to sustain its upward trend.
It’s important to highlight that, during the last few days, ETH has had a performance that surpassed that of Bitcoin Profit by up to 20%. However, a few hours ago, the most popular of the digital coins, broke the $19,000 barrier after several resistance tests.
In this way, and taking the data from the derivatives markets as a reference, in both cases, there is still a high level of optimism. In the same way that Bitcoin is heading for its historical high, ETH is entering a parabolic rally.
Bitcoin operators continue to maintain their optimistic attitude
It’s important to reaffirm that both Bitcoin and ETH operators will continue to bet on the bullish. This is expressed in the strengths that both assets have presented recently. At the time of writing, Bitcoin’s price is $19,280.
A remarkable fact is that Bitcoin option traders are „unflappable“. The proximity of the price of the pioneer cryptomone to $20,000, after which it would enter unknown territory, doesn’t seem to affect the nerves of what this psychological barrier might represent.
On the other hand, ETH’s optimism is mainly due to the fact that the network is approaching its expected 2.0 update. According to the mentioned analysis, this optimism is reflected in a very marked way in the options market.
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Strongly bullish futures contracts
In relation to futures contracts, Bitcoin and ETH operators remain strongly bullish. In that sense, as far as ETH is concerned, the futures base is at 10% and 20%.
To have an idea of the optimism that this reflects, it should be pointed out that a typical bullish market is between 5% and 10%. All of this indicates that this asset has a bullish charge that is not far behind when compared to that shown by Bitcoin traders.
As far as the futures premium of the cryptomone created by Satoshi Nakamoto is concerned, the behavior is similar to Ethereum, i.e. 10%. The reason for Bitcoin traders to pay such a high premium for futures contracts is one: optimism in the strength of this currency to continue rising. „This indicator, in turn, can be interpreted as a tax on leveraged long positions,“ confirms the work cited.
According to analysts, ETH and Bitcoin traders, for now, do not show signs of wanting to open bearish positions. Source: CoinTelegraph According to analysts, ETH and Bitcoin traders, for now, don’t show signs of wanting to open bearish positions. Source: CoinTelegraph CoinTelegraph
Bitcoin Futures Market Rising
Bearish options are not in sight
As far as bearish operations are concerned, traders‘ intentions are almost nil. Thus, neither ETH nor Bitcoin traders see a possible downward trend in these cryptosystems.
The charts show that the Ethereum futures base, was presented with an outstanding optimistic sentiment last Saturday. The same, according to analysts, is „unusual“ in the operators of contracts with this cryptomone. In other words, this suggests that traders are not willing to sell.
Bitcoin’s negative performance before today, on the other hand, may have been an indication that its traders were willing to sell. However, that hasn’t been the case. Despite being at a standstill since Saturday, the price of this crypto currency, this Tuesday, reached $19,500 USD.
Data to take into consideration
According to the graphics, in the future contracts, ETH’s performance has been on par with Bitcoin’s.
Even, until last Saturday, Ethereum’s performance was 20% higher than that of the pioneer cryptomone.
On the other hand, the bullish sentiment of Bitcoin’s operators, remains unshaken in its optimism.
Both assets are in a bullish stage, which makes traders refuse to open up downside trades.