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Bitcoin Price Faces Premium Greater Than $100 Between Exchanges Again -
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After yesterday’s downward price spike was met with quite a bit of support with traders ultimately helping the market avert a selloff, the divide observed through bitcoin’s price between Bitfinex and exchanges facing no withdrawal issues has only grown. In so far, traders have showcased that whilst some might fear of the worst, traders other than those with funds trapped in bitfinex seem confident in the market’s sentiment, this way allowing the premium to grow as long as the price doesn’t fall.

Major Signals

  • Markets worked on preserving price levels after a major price fall seemed to have been prevented.
  • Whilst BTC/USD rates didn’t break resistance above $1145 it does seem like buying pressure has weakened resistance in presence.
  • Traders have apparently not lost confidence in the market’s sentiment but Bitfinex’s premium is back above $100.

Bitstamp BTC/USD charts showcase how bitcoin prices remained relatively stable after a sizeable dip through yesterday’s trading session. In spite of resistance through, buying pressure has managed to keep prices above certain price point that have not be breached ever since the recent downward spike. It’s noteworthy how traders still have a tendency to battle selling pressure amid such a situation.

OKCoin BTC/USD weekly futures charts are showing how futures markets remain bearish in spite o live BTC/USD markets being able to recover from a particularly large downward spike and maintain price levels above $1225. Whilst the downward spike was the only thing that seemed to be bringing futures rates closer to live BTC/USD prices, the market’s follow up to it made the divide grow.

All in all, it’s worth pointing out that the market’s sentiment is remaining positive in spite of the lack of updates from Bitfinex and the overall uncertainty. Perhaps traders unaffected are prepared for the worst and hence the premium is to remain big until there’s a resolution to issues.

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