Derivatives data shows Bitcoin whales added to their leveraged positions after BTC price topped out at $42,600.
Bitcoin (BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco, KSA’s largest oil exporter, denied claiming to start mining Bitcoin.Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders are expecting more upside from cryptocurrencies. The 24% weekly rally that took Bitcoin from $34,000 to its highest level since May 20 was fueled by a 30% surge in the number of „active entities,” according to Glassnode. This indicator could have triggered these savvy traders to increase their positions despite the lackluster price perfor
Źródło: https://cointelegraph.com/news/this-key-bitcoin-price-indicator-shows-pro-traders-buying-each-dip
