Bitmex Quarterly Futures and Recent Bitcoin (BTC) Value Rallies Have Clear Correlations

After weeks of debate amongst experts and analysts, Bitcoin has finally been able to jump over the $4,000 threshold and is presently trading at $4,028.87, at the time of writing. However, the token itself has not seen any particular buying pressure since reaching this price level, and there’s no further certainty if the former resistance level will become a support level. However, there is an interesting connection with Bitmex, because the start of the quarterly futures of Bitmex seem to coincide with the jumps that Bitcoin has seen in its price, suggesting that there could be more of rhyme or reason to changing prices, instead of it being a completely random movement.

There are many traders that seek out information from the technical analysis of the token to figure out why the price movements took place in the market. However, this connection suggests that there are other events that could be having some kind of influence. One analyst in the crypto industry, Luke Martin, used Twitter to explain how the BTC price pumps have matched the new quarterly futures contracts on Bitmex.

The Twitter discussion started off by bringing attention to March 15th, which is when Bitmex Sept Futures began their trading. He noted that he had previously noted the dates of June Futures beginning on December 17th, which is when Bitcoin rose by 8%. He added that, though interesting, this change is not necessarily indicative of BTC price pumps, but it is a good way to predict the greater likelihood of volume and volatility.

In the fourth post, he commented how the latest Bitmex quarterlies had just begun trading, curiously wondering if the previous impact would be mirrored at this point as well.

Just after, Martin added that the BTC price moved quickly after the Bitmex quarterlies begun their trading in an “identical pattern” to the chances before.

It is worth noting that there is still no connection concretely established to price moves in the crypto market coinciding with other events or if it has anything to do with technical reasons. Another analyst in the industry posted to Twitter to point how growing strength in the fundaments of the industry and the token could be another reason for the growth.

As the next week begins in the crypto industry, it will hopefully become clearer to the industry experts of the role that various catalysts play in the rise of Bitcoin. Perhaps with more growth and change, the $4,000 price will become the new level of support.

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