Bitcoin Price Frictions Explained in 5 Simple Futures and Blockchain Signals

These five simple metrics can help anyone understand the recent behavior of Bitcoin.

In recent days, Bitcoin has been struggling to break different levels above the $7000 mark. From the COVID-19 crisis to the anticipation surrounding the Bitcoin halving event, there are plenty of macro factors that can be associated with the increasing price resistance. However, market datasets offer a more technical glimpse into factors that might influence short term movements in the price of Bitcoin. Specifically, looking into the futures market and the recent blockchain activity reveals some intriguing insights about the near time future of Bitcoin.

The intent of this analysis is not to overwhelm you with a lot of analytics that only a handful of experienced traders can understand. Quite the opposite, I would like to provide some very simple and tangible analysis that any retail investor can understand. Let’s dive in.

In recent days, Bitcoin has been struggle to cross levels above $7000. First around the $7300 mark and more recently around $7000.

There are some metrics that can help to add more context to the recent behavior of Bitcoin. For today, let’s focus our analysis in five simple metrics…