Qume Market Mondays-21st December 2020

Welcome to another edition of Qume Market Mondays



Following the prediction in our last edition Bitcoin crossed the $20k mark early last week and has been increasing for most of the week. Its highest registered price in the futures market was $24,350 on the weekend, a 25% increase since our last edition. The price dropped a thousand dollars on early Monday and the assets is currently valued $23,356 per Bitcoin.


This rally was also backed by a fall in Bitcoin top 100 to total ratio indicating a relatively stable bullish behavior as it signals towards lower accumulation by whales and greater value distribution among the market participants.]


Trading volumes in the futures markets spiked on weekend in futures market giving a strong momentum to the bull run.

Bitcoin Options


Bitcoin options open interest hit a record aggregated open interest on last Thursday registering more than $6B in a day.


Trading in bitcoin options also pulled upwards late in the week.


Bitcoin is at its all-time high but unfortunately the same can’t be said about Ether whose record price stands at $1,400 in Dec, 2017. It hasn’t even recovered to half that price.

Source — data.bitcoinity.org

The market signals remain bullish with solid trading volumes and a healthy distribution of wealth among the bitcoin owners. We expect bitcoin to be in the $20k+ range for the week. Bitcoin volatility is at its highest in many years.



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