Data from Skew Markets indicates that Bitcoin futures open interest on BitMEX and OKEx has exceeded $1 billion, and in total, Bitcoin futures open interest across the top 8 crypto exchanges is nearly $4 billion.

Further, month-on-month, Bitcoin futures options turnover has surged 70%, and in general Bitcoin futures are making new records, with $25 billion traded in a single day last month.

Not only does this data indicate that trading and investment activity is surging in the crypto space, but it also suggests that a major price movement is coming, either upwards or downwards.

Essentially, when there is a lot of money staked on Bitcoin Futures, a market movement could easily trigger a short squeeze, where Bitcoin’s (BTC) price rallies as short positions on Bitcoin Futures markets are forced to close out and cover their positions, or a long squeeze where long positions are forced to close out and sell.

It seems the general sentiment is that a further move upwards is expected, considering that Bitcoin (BTC) has rallied from $6,800 to $9,300 since the middle of December, and the block halving which is only 100 days away is creating positive speculation. Also, fears over the Coronavirus outbreak causing an economic slowdown have the potential to boost Bitcoin (BTC) investment, since Bitcoin (BTC) is considered an economic safe haven.

Thus, Bitcoin futures data indicates that the market is ready for a big move, and fundamental factors suggest that the move will be upwards to $10,000 plus.