Bitcoin traders’ bullish bias holds firm even as BTC price dips to $37K

Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but dealt with powerful resistance at the rate level. In summary, the consequences of current regulatory actions remain uncertain, and the prevailing sentiment is pessimistic, with investors fearing potential actions and additional constraints targeting market makers and stablecoin issuers.To figure out if the Bitcoin options market is an abnormality, lets take a look at BTC futures contracts, particularly the monthly ones– preferred by professional traders due to their repaired financing rate in neutral markets. By Nov. 27, it dipped to 9% as Bitcoins price checked the $37,000 support– a neutral level however close to the bullish threshold.Retail traders are less positive after the ETF hopium fadesMoving on to retail interest, there is a growing sense of apathy due to the absence of a short-term positive trigger, such as the potential approval of a spot Bitcoin exchange-traded fund (ETF).

Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but faced formidable resistance at the rate level. This disparity typically emerges due to varying expectations in between expert traders engaged in derivatives and retail customers involved in the area market.How have policies affected Bitcoin derivatives?To gauge the direct exposure of whales and arbitrage desks utilizing Bitcoin derivatives, one should evaluate BTC choices volume. In summary, the effects of recent regulative actions remain unsure, and the prevailing sentiment is downhearted, with investors fearing extra restraints and possible actions targeting market makers and stablecoin issuers.To figure out if the Bitcoin alternatives market is an abnormality, lets analyze BTC futures agreements, specifically the monthly ones– preferred by professional traders due to their repaired financing rate in neutral markets. By Nov. 27, it dipped to 9% as Bitcoins price tested the $37,000 support– a neutral level but close to the bullish threshold.Retail traders are less optimistic after the ETF hopium fadesMoving on to retail interest, there is a growing sense of passiveness due to the lack of a short-term favorable trigger, such as the potential approval of a spot Bitcoin exchange-traded fund (ETF).