Main navigation

Bitcoin Futures Now Traded Mostly by Whales, Analyst Says

Fri, 10/21/2022 - 07:40
article image
Alex Dovbnya
Bitcoin futures are now being traded mostly by whales, which means that Bitcoin is likely in the middle of another accumulation phase
Bitcoin Futures Now Traded Mostly by Whales, Analyst Says
Cover image via
Read U.TODAY on
Google News

 f According to CryptoQuant's Ki Young Ju, Bitcoin futures are now being traded mostly by whales.

Image by

The average amount of deposits to derivatives exchanges is "relatively big," Ju says.

This likely means that the largest cryptocurrency is now undergoing another accumulation cycle. 

For comparison, futures traders were mostly retail investors since the majority of deposits were relatively small. 

As reported by U.Today, cryptocurrency derivatives volumes remain relatively high despite the fact that volatility has taken a nosedive.

Last week, Arcane Research analyst Vetle Lunde predicted that the Bitcoin market was likely to see explosive volatility in the near future because of growing leverage. 

Open interest (OI) in Bitcoin futures contracts has been growing parabolically, which suggests that a major volatile price move might be on the horizon.  

Lunde is convinced that such high leverage is not sustainable, and it will have to be flushed out. 

However, due to the growing popularity of cash-margined contracts, there is now a smaller possibility of liquidation cascades that typically trigger extreme volatility. 

While Bitcoin's medium-term price action remains uncertain, Lunde remains on Bitcoin in the long-term due to the improving regulatory landscape and growing institutional adoption. 

The fact that whales are accumulating BTC bodes well for the cryptocurrency's bullish narrative, according to Ju. 

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at