Short-term high leverage liquidations #BTC: 19.7k and 22k. #ETH: 1,050
(1/4)
Low leverage positioning on #BTC and #ETH
On ETH, there are pools near 1300 to be taken out.
On BTC, once again near 25k area.
(2/4)
BTC Binance and aggregated funding is back to neutral.
A large majority of pairs on Binance USD-Margined Futures have turned to neutral. (2nd image shows the list of pairs with negative funding, rest are neutral funding except BTCDOM).
(3/4)
Overall order book depth is not that bad right now, although can be much better.
Watch out for the weekly close and Monday CME open.
(4/4)
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The 40k has been defended and is now sitting at 43.8k. Fed testimony and CPI events were in consensus.
So, what next? 🧐
Let's take a dive into some metrics.
(Thread) #BTC#ETH
30D returns were diminishing last month. Post-December drop, the metric has seen a steady rise as the price kept bleeding, forming a strong bullish divergence. It's now back in the threshold, and closing in on the 0% line. Once cleared, we foresee a few good performance weeks.
The accumulation trend scores on a 30D basis show that retail has confidence in accumulating on the bottoms whilst the whales are more reluctant to do so. Scores on a 7D basis indicate the same behavior in contrast to the divergence we saw in December.
The last tweet thread covered 30d diminishing returns for BTC. Now it has bottomed and starting to put in higher lows (bullish divergences with the price). Good for the short term, likely that in coming weeks we see the metric rising back to 0%.
Accumulation trend scores on a 7d basis show that retail has been getting involved while on a 30d basis we can see a lot of whale accumulation in this range.