Key takeaway: BTC derivatives metrics show traders taking precautions, but the data suggests traders are not reaching distressed levels yet. Bitcoin ETF outflows and tech sector weakness keep sentiment subdued, reducing confidence that Bitcoin can hold above $89,000. Bitcoin (BTC) retested the $89,000 level on Wednesday after an unsuccessful attempt to recover $93,500 in the previous day’s trading session. The move surprised traders and led to $144 million in liquidations from leveraged bullish BTC positions. Regardless of the drivers behind the correction, Bitcoin derivatives markets showed stability, suggesting a bullish…
Are Futures Traders Jumping Ship?
