{"id":17784,"date":"2024-10-15T14:22:36","date_gmt":"2024-10-15T11:22:36","guid":{"rendered":"https:\/\/forklog.com\/en\/indicators-point-to-rising-bullish-sentiment-among-bitcoin-investors\/"},"modified":"2024-10-15T14:22:36","modified_gmt":"2024-10-15T11:22:36","slug":"indicators-point-to-rising-bullish-sentiment-among-bitcoin-investors","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/indicators-point-to-rising-bullish-sentiment-among-bitcoin-investors\/","title":{"rendered":"Indicators Point to Rising Bullish Sentiment Among Bitcoin Investors"},"content":{"rendered":"<p>The funding rate for perpetual bitcoin contracts has reached a multi-month high, indicating bullish sentiment in the short to medium term, according to <a href=\"https:\/\/www.theblock.co\/post\/320907\/bitcoin-futures-funding-rate-hits-multi-month-high-signaling-bullish-sentiment\">The Block<\/a>.<\/p>\n<p>The metric, weighted by <span data-descr=\"open interest\" class=\"old_tooltip\">open interest<\/span>, has reached 0.012%. The last time such a high level was observed was on July 27, when the price of the leading cryptocurrency rose to $68,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1258.webp\" alt=\"1-1258\" class=\"wp-image-243233\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>On October 14, $89 million worth of shorts were forcibly closed in the perpetual contracts market \u2014 the highest since August 5.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-915.webp\" alt=\"2-915\" class=\"wp-image-243234\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>According to Bitget&#8217;s chief analyst Ryan Lee, traders are watching the $65,000 level after its breakthrough. If this mark holds as support, the upward momentum could continue, the expert noted.<\/p>\n<p>Lee anticipates that by the end of the year, digital gold prices will range from $50,000 to $80,000, with the potential for more significant fluctuations in the first quarter of 2025.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIf key economic indicators remain favorable and bitcoin surpasses current resistance levels, we will see accelerated growth,\u201d<\/em> he clarified.<\/p>\n<\/blockquote>\n<p>CryptoQuant pointed to an increase in open interest in derivatives to a record $19.8 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Open Interest Reaches New All-Time High of $19.8 Billion<\/p>\n<p>\u201cThis upward trend in the derivatives market indicates a growing influx of liquidity and increased attention in the cryptocurrency space.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/EgyHashX?ref_src=twsrc%5Etfw\">@EgyHashX<\/a> <\/p>\n<p>Full post ?<a href=\"https:\/\/t.co\/l6CIyhO11o\">https:\/\/t.co\/l6CIyhO11o<\/a> <a href=\"https:\/\/t.co\/HJxrxe2JP6\">pic.twitter.com\/HJxrxe2JP6<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1846099861453639761?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts noted that the rise in funding rates confirms bullish sentiment among traders and a growing influx of liquidity.<\/p>\n<p>Earlier, CryptoQuant calculated that users with balances exceeding 1,000 BTC have accumulated an additional 1.5 million coins over the past six months.<\/p>\n<p>Previously, Lekker Capital CEO Quinn Thompson urged investors to seize the opportunity to buy during dips.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funding rate for perpetual bitcoin contracts has reached a multi-month high, indicating bullish sentiment in the short to medium term, according to The Block. The metric, weighted by open interest, has reached 0.012%. The last time such a high level was observed was on July 27, when the price of the leading cryptocurrency rose [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1168,1146,1205,1145],"class_list":["post-17784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-cryptocurrency-market-forecasts","tag-cryptoquant","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17784"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17783"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}