{"id":221117,"date":"2023-12-30T08:01:26","date_gmt":"2023-12-30T02:31:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=221117"},"modified":"2023-12-30T08:01:26","modified_gmt":"2023-12-30T02:31:26","slug":"bitcoin-are-traders-hoping-for-a-sustained-btc-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-are-traders-hoping-for-a-sustained-btc-rally-crypto-news\/","title":{"rendered":"Bitcoin: Are traders hoping for a sustained BTC rally? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/04\/image-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/div>\n<p>\n<span class=\"mvp-post-date updated\">Posted: December 30, 2023<br \/>\n<\/span><\/p>\n<\/div>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">BTC options trading volume has grown significantly in December.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Despite the minor price decline, BTC accumulation remains strong.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/btc\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> options market is experiencing a surge in activity, with monthly trading volume reaching an all-time high across major crypto derivatives exchanges, data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theblock.co\/data\/crypto-markets\/options\/volume-of-bitcoin-options\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">The Block\u2019s Data<\/span><\/a><span style=\"font-weight: 400\"> dashboard has shown.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Standing at an all-time high, BTC\u2019s monthly options trading volume currently totals $38 billion, marking a 5% increase from the $36 billion recorded in November. On a year-to-date basis, the coin\u2019s monthly options trading volume has increased by 89%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Deribit\u2019s $28 billion constitutes 8% of the total monthly trading volume. It is followed by OKX, which has seen a trading volume of $4.35 billion. Binance comes in third place with a monthly trading volume of $3.23 billion.<\/span><\/p>\n<div id=\"attachment_361190\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361190\" class=\"wp-image-361190 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2560\" height=\"781\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01-300x92.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01-1024x312.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01-768x234.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01-1536x469.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01-2048x625.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361190\" class=\"wp-image-361190 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.01.01.png\" alt=\"\" width=\"2560\" height=\"781\" \/><\/a><\/p>\n<p id=\"caption-attachment-361190\" class=\"wp-caption-text\">Source: The Block<\/p>\n<\/div>\n<h4><b>What does this mean?<\/b><\/h4>\n<p><span style=\"font-weight: 400\">The rise in BTC\u2019s options trading volume in the last month suggests the entry of new traders into the market. These new entrants are opening positions through option contracts, confirming increased market activity and the presence of high liquidity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, BTC exchanged hands at $42,696. According to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, its value has risen by 12% in the last month. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The rise in the coin\u2019s options trading volume, alongside the growth in its price, reinforces the current momentum. This suggests that traders are placing bets in favor of a sustained price rally.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the coin\u2019s futures market, similar sentiments lingered, AMBCrypto found. <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/BTC\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Coinglass<\/span><\/a><span style=\"font-weight: 400\">, BTC futures open interest has rallied by 12% since the month began. An assessment of the funding rates across exchanges showed that traders have only placed bets in favor of continued price growth since the general market rally began in October.\u00a0<\/span><\/p>\n<div id=\"attachment_361191\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361191\" class=\"wp-image-361191 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2560\" height=\"742\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46-300x87.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46-1024x297.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46-768x223.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46-1536x445.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46-2048x594.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361191\" class=\"wp-image-361191 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-29-at-10.02.46.png\" alt=\"\" width=\"2560\" height=\"742\" \/><\/a><\/p>\n<p id=\"caption-attachment-361191\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<h4><b>BTC on a weekly chart<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Despite the 3% price retraction observed in the last week, coin accumulation persists strongly, according to readings from BTC\u2019s price movements on a weekly chart.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">For example, the coin\u2019s key momentum indicator Relative Strength Index (RSI), was 72.46. Likewise, its Money Flow Index (MFI) was 83.2. At these values, BTC buying pressure outpaced coin sell-offs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, the coin\u2019s Chaikin Money Flow (CMF) confirmed the steady inflow of liquidity into the BTC market. At press time, this indicator was 0.13.\u00a0<\/span><\/p>\n<div id=\"attachment_361192\" style=\"width: 2290px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361192\" class=\"wp-image-361192 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2280\" height=\"1292\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19.png 2280w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19-1536x870.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19-2048x1161.png 2048w\" data-lazy-sizes=\"(max-width: 2280px) 100vw, 2280px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361192\" class=\"wp-image-361192 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/BTCUSD_2023-12-29_10-03-19.png\" alt=\"\" width=\"2280\" height=\"1292\" \/><\/a><\/p>\n<p id=\"caption-attachment-361192\" class=\"wp-caption-text\">Source: BTC\/USD on TradingView<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: December 30, 2023 BTC options trading volume has grown significantly in December. Despite the minor price decline, BTC accumulation remains strong. The Bitcoin [BTC] options market is experiencing a surge in activity, with monthly trading volume reaching an all-time high across major crypto derivatives exchanges, data from The Block\u2019s Data dashboard has shown.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":221118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-221117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=221117"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221117\/revisions"}],"predecessor-version":[{"id":221120,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221117\/revisions\/221120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/221118"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=221117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=221117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=221117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}