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The U.S. Federal Reserve is set to roll out a fresh interest rate hike on March 22, and options traders could use this risk-averse strategy to generate profits.
Investors are unwilling to add long positions as the Shanghai Fork is expected to unlock a significant amount of ETH over a short period.
BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude.
BTC has struggled to overcome the $25,000 level, but on-chain analysis suggests that the pushback at the key price level is part of the transition out of the bear market.
According to CoinShares, outflows from crypto investment funds amounted to $17 million last week, marking the fourth consecutive week of outflows.
BTC price is attempting to stage a recovery, while EOS, STX, IMX and MKR are beginning to flash bullish signals.
Concerning news from Silvergate Bank and FTX may have influenced investors’ decision to press the sell button, but the potential for further downside could be limited.
The total crypto market cap slipped below $1.025 trillion as concerns over Silvergate Bank’s solvency triggered a sharp sell-off in BTC, ETH and altcoins.
BTC’s recent price swings are the result of regulatory pressure and the Federal Reserve’s stance on U.S. inflation.
Bitcoin started March on a positive note, but historically the month has recorded mediocre gains, which could be an early warning sign for crypto investors.