Tag: 117K

117k Bitcoin Quarterly Options Expire this Friday, March 26th

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Summary: 117k Bitcoin Options expire this Friday, March 26th The maximum pain point for the expiry is $44k according to the team at Deribit Insights Bitcoin has lost the $55k support zone with $53k the level to watch moving forward A drop to $49k seems likely Bitcoin will undergo a big quarterly expiry of options this Friday, March 26th. According to data from the team at Skew, a total of 117,000 BTC in Bitcoin options expire on this date. The team shared their observation through the following Tweet with an…

Crypto traders cautious on Bitcoin price as rally to $11.7K goes sour

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After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders began to turn slightly skeptical on the dominant cryptocurrency. Despite the initial breakout above two key resistance levels at $11,300 and $11,500, BTC recorded several rejections. While it might be premature to predict a marketwide correction, the level of uncertainty in the market seems to be rising. In the short term, traders pinpoint the $11,200 to $11,325 range as a critical support area. If that region holds, technical analysts believe a significant price drop is unlikely. But if Bitcoin…

Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume

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Bitcoin is trending upward and volume on decentralized exchange Uniswap is soaring to an astounding new high. Bitcoin (BTC) trading around $11,724 as of 20:00 UTC (4 p.m. ET). Gaining 0.61% over the previous 24 hours. Bitcoin’s 24-hour range: $11,575-$11,784 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 29. Read More: Huobi and OKEx Battle for Supremacy in China Bitcoin jumped as high as $11,784 on spot exchanges like Coinbase on Monday. Adding fuel to the fire was…

Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate

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Bitcoin gained Wednesday while DeFi interest rate volatility is causing concern over its long-term viability. Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase.  “I think we’ll hit $12,000 by Friday. There’s a lot of momentum in the market just now,” said Chris Thomas, head of digital assets for broker Swissquote. “Tuesday was a pause for breath, but we didn’t react negatively.”  Thomas noted bitcoin spot volumes have been rising this past week after a month of…