Bitcoin bears beware! BTC holds $17K as support while the S&P 500 drops 1.5%
BTC whales and market makers are holding their leveraged long positions, even though BTC failed to break above $17,400 on Dec. 5
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BTC whales and market makers are holding their leveraged long positions, even though BTC failed to break above $17,400 on Dec. 5
The total crypto market recovers some lost ground as the contagion risks associated with FTX’s collapse begin to look resolvable.
Expectations of stringent regulation and further contagion from FTX continue to weigh on ETH price, but derivatives are showing a modest improvement in sentiment.
Bitcoin whales and market makers continue to add to their leverage long positions, even though it’s unclear whether $15,500 was the final bottom.
Bears are better positioned to profit roughly $215 million during November's Ether options expiry, putting pressure on ETH's price near a critical resistance level.
BTC bulls were liquidated during the drop to $15,500 on Nov. 21, and more downside could occur if bears profit $245 million during Friday's expiry.
ETH bears continue to suppress Ethereum price, but institutional traders’ buying activity and exchanges’ aiming to provide more transparency could improve investor sentiment.
The total crypto market cap has dropped under $800 billion, but data highlights a few reasons why some traders are bullish.
In the past 48-hours Bitcoin traders added to their leveraged long positions even as crypto critics and politicians ramp up their criticism of cryptocurrencies.
Bears are better positioned for Friday’s $600 million BTC options expiry, but bulls can flip the tables if Bitcoin price trades above $18,000.