Breath of spring on the crypto market: Bitcoin futures contracts at a record high

The crypto-market releases more of the sideways rigid and turns back on in record mode: in addition to the total market capitalization of the Bitcoin futures reaching an all-time high.

Forward: In the week of the final sprint of the crypto market puts on a Mini-steep flight. The total market capitalization has established with 1.79 trillion US dollars, a new record. On the way to the 2-trillion mark, the Bitcoin is approaching-rate to gradually return to his record. With a daily increase of 3.2 percent in the crypto-currency quoted to the editorial deadline for 57.287 the US Dollar and the high is only 2.3 percentage points below the previous all-time high. Compared to the previous week, Bitcoin to considerable 17.8 percent.

Which Altcoins to it, just in time for the weekend, also a shovel. While Litecoin (LTC) recorded at 5.4 percent, the biggest Plus in the Top-10 Coins, followed by Uniswap (UNI) with 3.8 percent. Ethereum (ETH) pushes meanwhile, back on the 1,800 mark, and thus the pursuit of 2,000 US dollars again. Only the DeFi-Coins Polkadot (DOT) and Cardano (ADA) must have with 0.8 and 2.5 per cent discount to-day point of view, something springs.

Bitcoin derivatives trading is cracking all-time high

While the prices of print in the daily chart, a green candle, the capital inflows in the futures. According to Glassnode has reached, the trading volume of the outstanding Bitcoin Futures, a new all-time high. As the On-chain analysis company via Twitter informs is the Open Interest for Bitcoin Futures on the currently almost 20 billion dollars. With over 3.7 billion dollars, the trading volume of Binance is the highest, followed by Bybit (3.5 billion USD) and OKEx (2.8 billion USD).

Also, the total volume of the outstanding Bitcoin options, meanwhile, is on 11. March risen to a record high. The Data Aggregator Cryptorank to all stock exchanges in the aggregate Open Interest was for the first time just over 13 billion US dollars. In contrast to Futures, options, obliging the counterparty to buy.

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On to the next bull cycle?

The Figures make it clear: There is movement in the crypto market. The consolidation, which began after the Bitcoin all-time high at the end of February, it seems to go slowly back into a bull market. Willy Woo be to the analysts according to “the second major consolidation of the bull market of 2021 is almost complete.”

Thus, in particular, used for long-term investors, the correction phase, your BTC to replenish stocks. To do this, Woo: “Strong hands came in to buy this last Dip”.

As the graph shows, primarily investors “with a low sales history” during the consolidation slammed. A bullisher indicator that could be the next rally under the walls. Finally, the decline in Bitcoin could carry offer to trade places with unabated great demand for more rate increases. The weather points to the Outlook on a warm crypto spring.

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