Bitcoin is running toward $20,000 and the total crypto market cap looks to push above $1 trillion for the first time this year. noshitcoins explains how pro traders view the current uptick in bullish momentum.
Bitcoin price rallies to $19K, but analyst says a $17.3K retest could happen nextTraders can gauge the market's overall sentiment by measuring whether more activity is going through call options or put options. Generally speaking, call options are used for bullish strategies, whereas put options are for bearish ones.
Considering the market's bearish newsflow, bulls' main hope remains solely in the framework of a favorable macroeconomic environment, which largely depends on how retail sales data reports next week.
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