Today news
About the same in other media
$1.1B in Bitcoin options expire on Friday, but data points to a sub-$55K BTC price
Reading now: 207
Bitcoin (BTC) bulls are still licking their wounds from the bloody Dec. 4 correction which saw the price collapse from $57,000 all the way to $42,000. This 26.5% downside move caused $850 million in long BTC futures contracts to be liquidated, but more importantly, it shifted the “Fear and Greed index” to its lowest level since July 21.
It is somehow strange to compare both events, as the July 21 sub $30,000 low would have erased the entire gains in 2021. Meanwhile, the $42,000 low from Dec. 4 is still a 44% gain year-to-date. Compare this against the S&P 500 which is up 21% in 2021 and the WTI oil price which has accrued a 41% gain.
Bulls might be focused on the Bitcoin reserves held at exchanges, which continues to descend and currently
Read more on cointelegraph.comAbout this in other media
Bitcoin hits $49K as BTC price gets unlikely boost from Erdoğan’s Turkish lira tinkering cointelegraph.com /3 years ago
Bitcoin 'death cross' that pushed BTC price to $28.8K reappears cointelegraph.com /3 years ago
2 key Bitcoin trading metrics suggest BTC price has bottomed cointelegraph.com /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
