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K33 Research: Signs of cooling speculation frenzy for Bitcoin begin to appear in the futures market

K33 Research: Signs of cooling speculation frenzy for Bitcoin begin to appear in the futures market

Bitget2024/11/14 23:22

K33 Research indicates that the premium of Bitcoin futures on the Chicago Mercantile Exchange (CME) relative to spot market prices has declined. According to data from crypto data tracking company Amberdata, in the past 24 hours, there has been a surge in open contracts for put options with an execution price of $80,000. Vetle Lunde, research director at K33 Research said: "The market seems to be cooling down; since yesterday's close, CME benchmark contract premiums have been declining and hovering around 10% all day long - lower than the 13%-16% seen since the US election. This could subtly hint at a relaxation in risk conditions." The liquidation of bullish leveraged bets across the entire crypto market has contributed somewhat to Bitcoin's pullback from its record high.

According to data compiled by Coinglass, over the past 24 hours, long position liquidations were twice as much as short positions - amounting to $447 million and $207 million respectively.

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