According to the charts, most of the moves lately have been driven by the spot markets and there is also lots of volume on the futures markets.
Many months back, whenever we got a huge move (+20% or so) the funding rate usually followed, it stays >0.01% for days. And with the move we had recently it stayed constant at 0.01. The futures even had no premium which is odd. What this means is that the market is being lead by the spot exchanges this time instead of the derivatives.
Also CME futures has a big premium, last time I checked it was 1% or so, which means there is huge demand in the institutional departments. This move that happened shouldn't be a surprise. Many were expecting a dump, however most expected the dump AFTER the halving and not before.
Topic: Bitcoin Market Update: The Halving is Here - page 2. (Read 304 times)
Larry Cermak analysis shows that the number of new Twitter followers for major cryptocurrency identifiers like Binance and Coinbase has not increased. Without these increases, price increases apparently are not based on FOMO
Are you saying that twitter followers are a good indication of at least they have correlation on the price?
I would agree with the FOMO thingy, but I don't understand the twitter following logic here. Not all crypto enthusiast have twitter so it's not a good basis. What keeping the market today is the block halving. There could be some manipulation play from behind, and we need to wait till post-halving and see how the market will react.
Larry Cermak analysis shows that the number of new Twitter followers for major cryptocurrency identifiers like Binance and Coinbase has not increased. Without these increases, price increases apparently are not based on FOMO
Price ran up to $10,000 only to dump quickly to $8,100. Filled bids on this drop and remain bullish but HTF market structure is cause for concern.
Full analysis here:
https://www.cryptoadvocate.net/post/bitcoin-market-update-03-10-20
Full analysis here:
https://www.cryptoadvocate.net/post/bitcoin-market-update-03-10-20
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