Bitcoin futures and options data hint at further downside, but noshitcions says a rally to $42,000 would catch them off-guard and possibly catalyze a stronger than expected rally.
Regardless of the rationale behind Bitcoin's price recovery, investors should analyze derivatives markets to understand how whales, market makers and arbitrage desks are positioned.
The above chart shows that this metric dipped below 5% on Jan. 21 and hasn't yet shown signs of confidence from pro traders.
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