With the Bitcoin Spot market in a stand-still relative to the price upswings of the past months (surging as high as $9,000), BTC futures market is taking the baton, helping traders profit from the strong upward trend as well as the huge downside movement in past 3 days. The XBT products amassed the least average volume in USD at $644.5 million, and open Interest for the derivative product posted a figure of $212 million.
Ever since the recent bull run began, Wall Street has been trading Bitcoin Future contracts in larger volume and despite BTC now sluggish, the trend continues. According to financial markets analyst Alex Krüger, trade volume of XBT futures contracts soared to unimaginable highs owing to the larger price effect and institutional adoption that buoyed the BTC market. It should be noted that, with the price up and down, Bitcoin futures trading seems to be a favorite at Wall Street. In other words, BTC futures contracts might be the most profitable trading method during the recent market trend.
Bexplus Trading Strategies in Bitcoin Futures Contracts
BTC ended its 3-consecutive-day slight recovery and started downside trend since yesterday.
Due to BTC failed to stand stable at $8,500, it once again fell beneath $8,000 amid a sharp sell-off that saw prices drop to as low as $7,500 earlier today. Depending on the near-term performance of bitcoin, if bitcoin price struggles to maintain its momentum at around $7,800 high region, there exists a strong possibility of a larger pullback.
Bexplus exchange provides BTC, ETH and LTC perpetual contracts with 100x leverage. Added 100 times leverage, you can buy 100 BTC contracts with only 1 BTC. One of the reasons why investors like Bexplus is because it has NO spread, which means it allows you to open positions at the exact price you want. In addition, trading simulator with 10 free BTC is available for new registered users, especially beginners in BTC futures market.
Open Long Position
Technical support is around $7,500. If BTC price hasn’t broken below this level, it’s suggested to buy/up and the resistance will be $8,000.
Open Short Position
If BTC breaks below $7,500, it may plunge greatly as low as $7,000. It’s good chance to sell/down BTC and take profits at round $7,100.
Activities to Earn Free BTC on BTC Falling
As Bexplus’s bitcoin futures are becoming more popular, activity in the Bitcoin space is also growing.
Deposit and trade in Bexplus now, you can get 100% BTC bonus instantly. At one-time deposit, each user can earn up to 10 free BTC, which will also increase the margin rate in futures trading to avoid position blowup due to the huge market fluctuation.
Invite friends to join Bexplus, you have chance to earn up to 50% of your invitees’ each deposits. For example, if your invitee deposit 2 BTC, you will get 1 BTC as referral reward. No maximum limited.
The stance of traders have become cautiously optimistic to cautiously bearish following the overnight drop of bitcoin. It’s also a good time for you profit from the short-term bearish run by trading bitcoin futures.
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The post Bitcoin Futures Trading Attracts Strong Volume & Open Interest During the Recent Bearish Trend appeared first on Global Coin Report.
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