Bitcoin Gains Ahead of $6B Options Expiry After Market Finds $50K Floor
BTC held support around $50K and is approaching resistance around $56K. Bitcoin rose for the first time in three days as traders looked past Friday’s record $6 billion expiration of option contracts to a stronger market next week as April begins. “Returns after prior bitcoin options expiration dates have tended to be positive,” David Grider, strategist at Fundstrat, […]
Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April
Theoretically, the $80,000 call represents a bet that bitcoin would settle above that level on April 30. Some bitcoin options traders are betting this year’s price rally, which paused in recent weeks, will resume in April – historically a strong month for the market. Among options listed on the dominant Deribit exchange with an April […]
Bitcoin Traders Brace for Record $6B in Options to Expire Friday
The record bitcoin options expiry could be bearish overhang on the market. They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most. Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record […]
Bitcoin Rises Despite Dollar Strength as Elon Musk Adds BTC Payment Option
Tesla accepting bitcoin payments and running its own nodes is “massively bullish,” according to one analyst. Bitcoin (BTC) jumped early Wednesday after the Tesla CEO Elon Musk said the electric vehicle maker is now accepting the cryptocurrency as a payment option. Musk’s Twitter announcement overshadowed the dollar’s strength, helping the cryptocurrency stay bid. “You can now […]
Bitcoin Transfer Worth $806M Might Reveal Big Institutional Purchase
“My speculative guess is that institutions are buying bitcoin’s price dip,” one analyst said. Digital-asset traders and analysts were scrambling Tuesday to assess a fresh data point extracted from the Bitcoin blockchain: Some $806 million worth of the cryptocurrency apparently transferred earlier in the day off of the Coinbase exchange’s institution-focused unit, Coinbase Pro. The […]
Bitcoin Uptrend Slows, Stays at $58K, Battles Resistance Near All-Time High
BTC is moving sideways as its short-term uptrend slows. Bitcoin (BTC) has been stuck in a range of $54,000 to $60,000 over the past few days. The near 40% rise from the Feb. 28 low is slowing as traders continue to take profit from the March all-time high around $61,000. The 50-period volume weighted moving […]
Bank of America Sees DeFi ‘Potentially More Disruptive Than Bitcoin’
There is “no good reason to own BTC unless you see prices going up,” the bank says, but it is intrigued by decentralized finance. “Bitcoin is the most talked about cryptocurrency but Ethereum [the blockchain] has more features, including being more flexible” in its hosting of decentralized finance (DeFi) than the Bitcoin blockchain, according to Bank of America. […]
Lindsay Lohan Partners With Justin Sun to Release NFTs on Tron
The auction comes during the technology’s seemingly overnight transformation into a fascination of the investing world. Whether or not the non-fungible token (NFT) bubble – as newly-minted millionaire and digital artist Beeple calls it – will imminently pop is a question for ongoing debate. But one thing is clear: Lindsay Lohan issuing her own NFTs […]
Bitcoin Drops 3% Ahead of Fed Meeting, Despite Bullish Chart Pattern
Bitcoin is falling, as caution ahead of the FOMC rate decision overshadows bullish chart pattern. Bitcoin is nursing losses ahead of a crucial Federal Reserve policy meeting that could reveal the U.S. central bank’s plans in the wake of rising inflation expectations. The top cryptocurrency, which is seen by many investors as a hedge against rising prices, […]
Bids for Elon Musk’s Crypto-Themed NFT Pass $1M
The NFT features a gold trophy decorated with “diamond hands,” a group of Shiba Inu dogs, a moon and the crypto term “HODL.” Tesla’s Elon Musk is auctioning off a non-fungible token (NFT)-based “artwork,” with bids now over the million-dollar mark. Tweeted late on Monday, the NFT features a gold trophy decorated with “diamond hands,” Shiba […]