Bitcoin derivatives data suggests a BTC price pump above $18K won’t be easy
The BTC futures premium remains a topic of concern, but it appears that traders are starting to price similar risks for the upside and downside. Traders might rejoice now that Bitcoin price ventured above $17,400, but twenty-seven long days have passed since Bitcoin (BTC) last breached the $17,250 resistance. On December 13, after a two-week-long lateral movement, Bitcoin posted a 6.5% rally toward $18,000 and even though the current movement still lacks strength, traders believe that a retest of the $18,250 resistance remains possible. Bitcoin 12-hour price index, USD. Source: TradingView To start the week, the S&P 500 index rose to its highest level in twenty-six days on Jan. 9. Weak economic data had previously fueled investors' expectation of slower interest rate hikes by the U.S. Federal Reserve (FED) and the Jan. 12 Consumer Index Report (CPI) could lend some credence to this expectation. On Jan. 6, German retail sales data showed a 5.9% year-on-year contraction took p...