Bitcoin Options Expiry before BTC Halving 2024, Dump or Pump?
As Bitcoin price rebounded prior to options expiry, traders took advantage of negative funding rates to initiate long positions, leading to a recovery.
Btc price decreased to $309 after a flash crash on the bitcoin trading platform BTC-e.
As Bitcoin price rebounded prior to options expiry, traders took advantage of negative funding rates to initiate long positions, leading to a recovery.
With Bitcoin’s recent price surge, it can be inferred that Schiff’s post questioning the leading cryptocurrency’s safe haven status may have been premature.
Breaking down the losses across different blockchains, BTC traders took the highest hit, with $4 million liquidated in the network in the last 24 hours.
Bitwise CEO Hunter Horsley said that several RIAs and multi-family offices have been exploring Bitcoin investments while staying low-key and conducting research silently.
Crypto whales have continued to defend Bitcoin’s support level around $61K ahead of the fourth halving over the weekend.
The speculations of these analysts underscore the previous opinion shared by Bloomberg Senior ETF Analyst Eric Balchunas.
Blockware Solutions analyst Mitchell Askew believes the upcoming Bitcoin halving event will turn out to be a buy-the-news event.
Bitcoin price recovered quickly after a dip to $61,500 following Fed Chairman Jerome Powell’s comments about keeping interest rates unchanged.
Bitcoin price surged to $67,000 during Asian trading hours, following the approval of spot Bitcoin ETFs in Hong Kong. However, this euphoria was short-lived as rising US Treasury yields impacted market sentiment, pushing BTC back to $62,500.
According to Crypto.com CEO, Bitcoin halving would be a buy-the-rumour, sell-the-news event. In the short term, it could lead to price volatility but would be overall positive in the long term.