Expiry
Here’s why Bitcoin bulls will defend $42K ahead of Friday’s $3.3B BTC options expiry
Over the past two months, Bitcoin (BTC) has respected an ascending triangle formation, bouncing multiple times from its support and resistance lines. While this might sound like a positive, the price is still down 11% year-to-date. As a comparison, the Bloomberg Commodity Index (BCOM) gained 29% in the same period. Bitcoin/USD 1-day chart at FTX. Source: TradingView The broader commodity index benefited from price increases in crude oil, natural gas, corn, wheat and lean hogs. Meanwhile, the total cryptocurrency market capitalization was unable to break the $2 trillion resistance level and currently stands at $1.98 trillion. In addition to 40-year record high inflation in the United States, a $1.5 trillion spending bill was approved on March 15, enough to fund the government through Septem...
Bitcoin bulls to defend $40K leading into Friday’s $760M options expiry
Over the past two months, Bitcoin (BTC) has respected a slightly ascending trend, bouncing multiple times from its support. Even though that might sound positive, Bitcoin’s performance year-to-date remains a lackluster negative 14%. On the other hand, the Bloomberg Commodity Index (BCOM) gained 2% in the same period. Bitcoin/USD 1-day candle chart. Source: TradingView The broader commodity index benefited from price increases in crude oil, natural gas, gold, corn, and lean hogs. Worsening macroeconomic conditions pressured the supply curve, which, in turn, shifted the equilibrium price toward a higher level. Moreover, the United States approved a $1.5 trillion spending bill on March 15 that funds the government through September. President Joe Biden’s signing of the legislation...
Bitcoin bulls may ignore Friday’s $730M options expiry by saving their energy for $40K
The past few months have been less than pleasant for Bitcoin (BTC) bulls, but they are not alone. Persistent comments from the United States Federal Reserve hint at plans to raise interest rates in 2022 and thi is causing investors to seek protection in inflation-protected bonds. The monetary authority signaled its intention to substantially raise the benchmark interest rate and they will also gradually reduce the monthly purchase of debt assets. Even though some crypto investors deem Bitcoin digital scarcity as inflationary protection, that does not change its volatility. In turn, it causes the asset price to move in tandem with risk markets. Bitcoin price at Coinbase, USD (right) vs. Russell 2000 index (left) The above chart shows Bitcoin price in blue stacked against the smaller U.S. li...
Bears target new lows for Ethereum as Friday’s $1.1B options expiry approaches
Ether (ETH) price tumbled below the $3,000 support on Jan. 21 as regulatory uncertainty continues to weigh down the sector and rumors that the United States Securities and Exchange Commission is reviewing DeFi’s high-yield crypto lending products continue to circulate. On Jan. 27, the Russian Finance Ministry submitted a crypto regulatory framework for review. The proposal suggests that crypto operations are carried out within the traditional banking infrastructure and that mechanisms to identify traders’ personal data are included. Further bearish news came as Ryan Korner, a top special agent from the United States Internal Revenue Service (IRS) Criminal Investigation’s Los Angeles field office, issued negative remarks during a virtual event hosted by the USC Gould School of Law. Ac...
Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K
Bitcoin (BTC) investors seem uncomfortable with adding positions after the most recent 40% correction from the $69,000 all-time high made on Nov. 10. In addition to the prolonged downtrend, remarks from the United States Federal Reserve on Dec. 15 about rising interest rates are also weighing on risk-on assets. The Fed signaled that it could raise its benchmark rate three times this year and there are plans to increase the pace of its asset purchasing taper. Consequently, traders are worried that these plans will negatively impact traditional and crypto markets because liquidity will no longer be “easily” available. Bitcoin price at Coinbase, USD (right) vs. China stock market MSCI index (left) Cryptoasset regulation in the U.S. has been in the spotlight and recently a member o...
Bitcoin’s $6.1 billion options expiry was not enough to break the bearish sentiment
Bitcoin’s (BTC) price has been ranging between $46,000 and $52,000 for 26 days. Despite the large nominal $6.1 billion year-end options expiry, the bullish and bearish instruments were evenly balanced between $44,000 and $49,000. Therefore, it was no surprise that the $47,175 price at 8:00 am UTC on Dec. 31 brought little change to the price structure. Even the 3% rally to $48,500 following the event failed to sustain itself, signaling that bears are unwilling to cede their upper hand. Bitcoin/USD price on Coinbase. Source: TradingView Bulls might have interpreted the 9,925 BTC leaving Coinbase in 24 hours as a positive trigger, considering fewer coins are available on exchanges for newcomers. Besides, the first week of the year has been positive for the past four years, averaging 18...
Pep Guardiola ‘moving closer’ towards Manchester City contract extension
Pep Guardiola is ‘moving closer‘ towards a contract extension at the Etihad Stadium, as opposed to leaving the club upon the expiry of his current contract at the end of the 2020/21 season, according to the Telegraph on Saturday night. The post Pep Guardiola ‘moving closer’ towards Manchester City contract extension appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
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