2 key Bitcoin trading indicators suggest BTC is ready for a 62% upside move By Cointelegraph


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(BTC) has been below $45,000 for 14 days and is currently 40% below the $69,000 all-time high. This movement holds similarities to late-September 2021, when Bitcoin price flat-lined for 11 days and was 36% below the previous $64,900 all-time high on April 14.

Bitcoin price at Coinbase (NASDAQ:), USD. Source: TradingView

To understand whether the current price momentum mimics late September, traders should start by analyzing the Bitcoin futures contracts premium, which is also known as “basis.” Unlike a perpetual contract, these fixed-calendar futures do not have a funding rate, so their price will differ vastly from regular spot exchanges.

Bitcoin 3-month futures premium in Sept. 2021. Source: laevitas.ch
Bitcoin 3-month futures premium. Source: laevitas.ch
Deribit Bitcoin options 25% delta skew in Sept. 2021. Source: laevitas.ch
Deribit Bitcoin options 25% delta skew. Source: laevitas.ch