Pro traders don’t expect Bitcoin to break and hold $20,000 anytime soon
Bears have controlled BTC price by forcing 111 daily closes below $25,000 and derivatives data shows a reversal of this trend is highly unlikely.
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Bears have controlled BTC price by forcing 111 daily closes below $25,000 and derivatives data shows a reversal of this trend is highly unlikely.
Traders expect an uptick in volatility due to the possibility of September’s $2.2 billion options expiry putting pressure on BTC price near a critical support level.
Bitcoin price dropped to $18,270, but derivatives traders didn’t flinch. Here is why.
The outcome of the Ethereum Merge will be a primary price drive that dictates whether ETH bears profit from this week’s $490 million options expiry.
Is the BTC bottom finally in? Data suggests that bears might be losing their tight grip on the market.
BTC bulls have a chance to profit from this week’s $410 million options expiry, but the factors pulling down equities markets reduce the chance of Bitcoin changing its trend.
BTC nose-dived to its lowest level since July 13, but data shows pro traders remain skeptical of a quick recovery.
BTC and stocks sold-off after comments from the Federal Reserve re-emphasized the Fed’s commitment to lowering high inflation in the United States.
On August 26, $1.27 billion in ETH options expire and data signals that the price is likely to stay pinned under $2,000 until the Merge.
BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry.