Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
Bitcoin (BTC) performed a sharp turnaround that the price broke above USD 31,000 in the past 2 days. This is the first time bitcoin has broken above the USD 31,000 mark since early May. However, BTC’s upside has been capped and is struggling at the USD 30,000 mark again. The sentiment in the crypto market remains bearish.
● BTC Market Continues to Point At Extreme Fear
According to the latest data from Fear & Greed Index provided by Alternative.me, the value is 17 right now, suggesting that the general sentiment is extreme fear. Historically, bottoms have tended to form during periods of extreme fear.
But from the latest weekly report by Arcane Research, the crypto market is currently going through its longest run of extreme fear since the COVID crash back in 2020. Continuous extreme fear can also lead to more capitulation and the so-called buying opportunity may be much lower.
● Miners Selling BTC Against Market Headwind
A look at the Miners Net Position Change by Glassnode, proves that miners keep selling BTC, with peak selling of around 8,000 BTC in May. In response to the market crash due to LUNA Foundation selling over 80k BTC in an attempt to maintain the UST peg, miners have since distributed 10k BTC adding to the selling pressure in the market. And the pace of selling appears to be cooling off, with a projected 3,300 BTC at the beginning of June. If BTC miners continue to sell BTC in large amounts, it could crush the price of BTC lower.
The Best Instrument to Benefit from BTC Bearish Market
Though BTC is in a downtrend on a whole, it still has traded in a choppy price range between USD 29,000 – USD 32,000 recently. Thus, it is a good chance to profit from the market fluctuations with one of the most popular instruments – 100x leverage crypto futures.
How Crypto Futures with 100x Leverage Works?
Crypto futures trading enables you to profit from BTC price rising and falling. With 100x leverage applied, traders can use 1 BTC to open a position of 100 BTC.
For example, if you predict BTC will decline and use 1 BTC to open a short position at the price of USD 31,000 and close it when Bitcoin is trading at USD 29,000, you will get the profit of (USD 31,000 – USD 29,000) * 100 BTC / USD 31,000 = 6.6 BTC, making the ROI of 660%.
Popular Crypto Futures Exchange in the Market
Bexplus is a Bitcoin-based crypto futures exchange, which was founded in late 2017. It serves traders worldwide – in just over 200 countries, providing them with proper liquidity, a variety of trading tools and features, while also maintaining security and a safe trading environment. In Bexplus, you can trade 100x leverage futures on various trading pairs: BTC, ETH, ADA, Doge, XRP, etc.
In Bexplus, you can enjoy the following user-friendly features:
- Demo account with 10 BTC to practice trading without risks.
- No KYC requirement, registration with Email within a few minutes.
- Android and iOS App to trade anywhere anytime.
- 7/24 hours 1V1 customer support available.
- Fast withdrawal without any time limit, and no deposit fee.
● Copy Trading
Bexplus’ unique copy trading gives every investor who is new to the BTC futures market the opportunity to become a veteran and earn more BTC with top traders. It allows you to copy investment orders from experienced investors, as well as to customize the proportion of the position copied, set your own take profit and stop loss targets, or close copied positions at any time.
● BTC Wallet: up to 21% Annualized Interest
Bexplus offers a safe way to earn money – A BTC Wallet with up to 21% annual interest. Compared with the minimum BTC deposit requirement of 1 BTC that is provided in other trading platforms, Bexplus’s minimum 0.05 BTC deposit requirement is more affordable for most investors.
If you deposit 1 BTC, there will be 2 BTC credited to your account, which will increase your margin rate to avoid easy liquidation during the huge volatility and make a bigger profit. Users can also withdraw the profits earned with the bonus. Up to 10 BTC bonuses can be obtained for each deposit.
Grasp the market trend and profit opportunity now! Click Here to Join Bexplus and COPY top traders’ success!