Bitcoin derivatives data hints at traders’ goal of pressing BTC price to $40,000.
) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark.
by U.S. Federal Reserve Bank of Minneapolis President Neel Kashkari on Nov. 6 has set a bearish tone, prompting a 'flight-to-quality' response.“ We haven’t completely solved the inflation problem. We still have more work ahead of us to get it done." Meanwhile, Bitcoin's futures open interest has reached its highest level since April 2022, standing at $16.3 billion. This milestone gains even more significance as the Chicago Mercantile Exchange solidifies its position as the second-largest market for BTC derivatives.Recent use of Bitcoin futures and options have made media headlines.
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