The crypto market is getting more affected by the derivatives market.
It's been around 2 years since Spot BTC ETFs started trading. As well as, many global corporations have been accumulating BTC for the last several years.
That means, BTC price might have led by institutions including Wall Street.
Additionally, the size of BTC futures market has been exponentially growing.
So, I decided to check the BTC exchange liquidation map everyday.
I guess if a cumulative liquidation leverage of either long or short is more, the price movement could be attracted by the heavier position.
Additionally, I'll take a look at the BTC options market tomorrow.
Hey @happycapital! Great to see you diving into the BTC liquidation map – this is exactly the kind of insightful market analysis I love to see on Steemit! That CoinGlass chart paints a fascinating picture.
The connection you're drawing between institutional investment, the growth of the futures market, and potential price manipulation based on liquidation levels is spot on. It's a smart move to track these liquidations daily. I'm curious to see if you find any consistent patterns or leading indicators!
Following the money is always a good strategy, especially in crypto. Looking forward to your take on the options market tomorrow. Keep up the excellent work, and thanks for sharing your knowledge! What other tools do you find useful for on-chain analysis?