BTC is in a lengthy downtrend but three key price metrics explain why traders are confident that the $38,000 level will hold. Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet. While…
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BTC price continues to trade in a wide range, providing an opportunity for options traders to use the Iron Condor strategy. The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption.…
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Digital currency markets have been tumultuous during the past month as bitcoin shed 15.43% and ethereum dropped 17.49% against the U.S. dollar. Moreover, crypto spot volumes are down 18.95% lower than the month prior, and both futures and options volumes were down in April as well. Lower than average trade volumes typically suggest overall interest…
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Holding BTC price below $39,000 will give bears a $350 million profit in this week’s $1.9 billion options expiry. Up until April 25, Bitcoin (BTC) bulls had been defending the $38,000 level, but bulls were caught off-guard by the recent drop. As Bitcoin plunged from $46,700 to $37,700 between April 5 and 26, most of…
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Ethereum Foundation members expect “the merge” to happen before year-end and savvy options traders will profit using this options strategy. Ethereum’s long-awaited transition away from proof-of-work (PoW) mining has recently suffered another delay and is expected to occur in the second half of 2022. Ethereum developer Tim Beiko stated on April 13 that “it won’t be…
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BTC staged a small relief rally, but securing $41,000 is the key to determining whether or not the current sell-off has ended. Over the past three months, Bitcoin’s (BTC) daily closing price fluctuated between $35,050 and $47,550, which is a 35.7% range. Although it might seem excessive, this is not unusual, especially considering BTC’s 68%…
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Regulatory uncertainty, potential competition from tech giants and a market nearing exhaustion are all factors impacting ETH price. After a 42% rally over a three-week period, Ether (ETH) peaked at $3,580 on April 3 and since then, a 12% correction to $3,140 has taken place. Tech giants launching their own smart contract platforms and regulatory…
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ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution. Ether (ETH) price jumped 11% between March 26 and March 29 to reach $3,480, which is the highest level in 82 days. Currently, the price is down 9% year-to-date but does data support the…
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Recent strength in Ethereum boosted investors’ morale and gave bulls the upper hand in March 25’s $2.4 billion options expiry. Ether (ETH) bulls have a few good reasons to celebrate the 20% gain between March 14 and March 24. The price increase surprised many and led to the first daily close above $3,000 in 34…
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Holding $42,000 will help determine whether BTC bulls bag a $175 million profit in March 25’s $3.34 billion 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%…
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