Views on the market:

• bybt - check funding rates, liquidations, open interest

• coinlyze - open interest reacted overnight

• coindesk, telegram groups

• skew - advanced

• Open interest - amount of leverage, the more OI on futures - higher leverage.

OI / Total market cap of BTC with funding rates shows possibilities for long or short squeeze on the market.

Rate of change of OI compare to price decrease of BTC shows the reason of price movement.

Distinction between USDT OI and coin margined OI. Shows bearish or bullish mood on the market.

• OI isn't so useful by itself need to combine with funding rates i.e.

Shows who is more aggressive long or shorts.

Important to break up the types of margin that's used. If negative FR on USDT margin means much more that negative FR on token margin that might be because of people who explicitly bearish and hedge. And vice versa positive FR on token margin is more dangerous.

Combine metrics to find extremes.

• Liquidations

Look at hourly or daily amount of liquidations. Good for short time frame trading.

Example. 1b dollars got liquidated in stuck bid side orderbook maybe there is good short trade. ?

• Best places to get data:

Bybt

Skew

Glassnode

The block

• Options aren't so important in price discovery as futures are.

Positive skew - market is fearful. Negative skew - market is greedy.

Look at buying in short time periods, sometimes large amount of options going through in a short period of time represent informed market participants.

BTC options post-expiry has tended to be fairly positive. Potential reasons:

Strike pinning during expiry

End of month fund flows

Cyclicality traders