The pieces of cryptocurrency are now settling gradually in the sideways rhythm and showing the perfect conditions for the futures traders for hedging big bets on the Bitcoin prices.
The futures trading is now hitting an all-time high because the traders are trying to forecast the forward movements of Bitcoin while the markets are starting sideways trading as the prices settle.
New Upward Journey of Bitcoin
The cryptocurrency market has calmed down within a night after there was massive turbulence towards the beginning of this week. The chaos is now ironing out.
The market capitalization of the entire crypto sector had declined to a low $1.56 trillion from $1.57 trillion as reported by Nomics. The top 20 cryptos have been down by under 5% except for meme token, Dogecoin that has successfully managed to acquire a gain of almost 1.7% in the past 24 hours.
In the meantime, the markets have started to move sideways which means that the troughs and short peaks conditions are now becoming very attractive for the futures traders in order to attempt and capitalize on the ambiguity upon which the markets are now going towards.
The entire regular trading volume of the futures markets of Bitcoin has now managed to hit a record high of almost $180 billion on 24th February, Wednesday, as reported by Glassnode analytics firm.
The positive rate of funding indicates that long betting people will pay shorts meaning the bullish forecast will pay the bearish ones. Meanwhile the negative flips the very agreement.
Stock markets have maintained their cycle away from the stocks of tech towards the smaller companies. As a result, the Dow surged 1.4% to another record high.
