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‘Monster bull move’ means whales could secure the next Bitcoin price surge
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Bitcoin (BTC) whales are the center of attention this week as buying and selling habits split the BTC price narrative.
New findings from on-chain analytics firm CryptoQuant show derivatives investors leading the way when it comes to bullish bets on Bitcoin.
The second half of November produced a marked uptick in the buy/sell ratio on major derivatives trading platform Deribit, and for contributing analyst Cole Garner, this is a sure sign that price action will react positively in the near term.
“I recently discovered the ratio of market buys & sells of perpetuals on Deribit Exchange is a sick leading indicator,” he commented.
The data ties in with other recent observations from the exchange sphere against a backdrop of whale interest
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