3 key metrics to watch as Bitcoin price tries to top $20,000

3 key metrics to watch as Bitcoin price tries to top $20,000

For the past week, (BTC) price has been flirting with the $20,000 mark, which has led some traders to lose their patience. In the eyes of some traders, the lack of bullish momentum is problematic, especially considering that BTC tested the $16,200 level roughly a week ago.

Experienced traders know that there are key indicators that serve as telling signs of a trend reversal. These are volumes, the futures premium, and top traders’ positions at major exchanges.

BTC perpetual futures weekly funding rates. Source: Digital Assets Data
Jan. 2021 BTC futures premium. Source: Digital Assets Data
BTC aggregate spot exchanges volume. Source: Coinalyze.net
Binance BTC top traders long-to-short ratio. Source: Binance
OKEx BTC top traders long-to-short ratio. Source: Bybt.com