FxWirePro- Major Crypto levels and bias summary 
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After BTCUSD has bottomed out at $3,122.28 levels, the pair has surged to the June highs of $13,880 levels which is almost more than 344% so far (in just 6-7 months or so, refer monthly chart). It has halted the vigorous rallies and turned bearish again to plunge back towards $10k levels.
The position proxy suggests that Bitcoin is still overbought despite some position reduction in July. After peaking at the end of June, Bitcoin has been struggling in July raising questions about overbought conditions. As a result, the underlying pair has tumbled below $10k level.
Owing to such price turbulence in the cryptocurrency avenue in the recent past, crypto derivatives such as bitcoin futures contracts are growing in popularity.
Recently, Bitcoin price has been under huge volatility and early this week, BTC fell below key support above $10,000 and declined near the $9,600 region. According to some price and volume analysis, it could suffer a deeper drop.
BTC derivatives trading is getting popularity as it enables traders for price discovery and to derive yields by accurately anticipating if BTC will either increase or decrease in value.
At Bexplus, the cryptocurrency futures contracts are available with 100x leverage, they also unveil the latest wallet function, namely annualized interest-bearing BTC wallet, through which the users can deposit and store their BTC in the wallet which is a highly secured offline storage system encrypted with multi-signature technology and derive up to 30% annualized interest.
BTC futures trading is perceived as highly risky venture and hence, they carry huge returns if one position in right trade direction regardless of the trend (be it bullish/bearish), whereas the spot trade seems quite unattractive for some class of investors, you can turn to Bexplus’s new function if you are a risk-averse or the investor with moderated risks.
