In the last 24-hours Bitcoin (BTC) price dropped 10% today to test the $30,000 support. This drop below what traders have described as a ‘key’ support occurred just two days ahead of this month’s futures and options expiry. Despite the record-high $4 billion options expiry being just two days away, both bull and bear sides traded similar sizes today. Unlike futures contracts, options are divided into two segments. Call (buy) options allow the buyer to acquire BTC at a fixed price on the expiry date. On the other hand, the seller of the instrument will be obliged to make the …

Over the last 48 hours, Bitcoin (BTC) price climbed from $31,000 to $34,800 before reversing course and dropping the majority of these gains. While this $3,800 shift to the downside might not seem significant, the 12% oscillation liquidated $660 million worth of futures contracts. While it’s unlikely that there will ever be a definitive answer behind the move, on Jan. 25, President Joe Biden voiced his willingness to lower the $1.9 trillion stimulus package. This might have reduced incentives for those buying BTC as an inflation protection or a hedge against U.S. dollar devaluation versus leading global currencies. Shorter-term charts …

Bitcoin (BTC) starts a new week with $30,000 reconfirmed as support but also a fresh vote of no confidence from the mainstream. After a more or less steady weekend, the largest cryptocurrency remains firmly in its established trading corridor: between $30,000 and $40,000. What’s next? Cointelegraph takes a look at the factors impacting price performance this week. Stocks face a "spectacular bust" — analyst Stocks showed clear upward momentum on Monday, led by Hong Kong as a new favorite target for Chinese investors. Sentiment received a major boost earlier this month after United States President Joe Biden announced a $1.9 …

Over the past two weeks, Bitcoin price appears to have lost momentum and some analysts are suggesting that bears will be in control for the foreseeable future. Taking a look at derivatives market data provides a clearer picture of what is happening on the institutional side and how the moves of larger players may impact the spot markets. After peaking at $10.6 billion on Jan. 14, the open interest on Bitcoin (BTC) scaled back to $8.4 billion. The Jan. 29 monthly expiry continues to stand apart, totaling 47% of the options in play. Although a $4 billion expiry could be …

The price of Bitcoin (BTC) is continuing to reject the $35,000 resistance level, falling below $30,000 briefly overnight on Jan. 22. BTC has pared some losses since, bouncing above $31,500. At these prices, however, BTC/USD is headed for its worst week ever, losing over $5,000 in the past four days, as the bulls attempt to establish $32,000 as new support. There are three main reasons why the price of Bitcoin dropped so steeply overnight. First, the options market was overheated with growing put options. Second, a critical resistance area was rejected. Third, the speed of the sell-off possibly led to …

In the last 24-hours Bitcoin (BTC) price dropped 14% and tested the $32,000 support for the fifth time this year. Traders probably became even more worried as the price fell to $31,050 but at the time of writing the 4-hour chart suggests that the selling could be slowing down. Currently the shorter-term charts indicate that Bitcoin is still flirting with bearish territory but a number of derivatives indicators and the top traders flow reflect neutral to bullish levels. The last three times Bitcoin price fell below $32,000, an extensive rally of up to 30% followed. Data shows that the top …

Over the past two months the open interest on Bitcoin options has held reasonably steady even as the figure increased by 118% to reach $8.4 billion as (BTC) price rose to a new all-time high. The result of Bitcoin’s price appreciation and the rising open interest on BTC options has resulted in a historic $3.8 billion expiry set for Jan. 29. To understand the potential impact of such a large expiry, investors should compare it to the volumes seen at spot exchanges. Although some data aggregators display over $50 billion to $100 billion in daily Bitcoin volume, a 2019 report …

Bitcoin (BTC) price recovered by 27% just three days after testing the $31,000 support and earlier today bull recaptured the $40,000 level. This quick recovery occurred despite the digital asset facing one of the largest buy-side liquidations in a single day as $1.5 billion was wiped off the books. Interestingly, futures contract traders appear to have returned with an even larger appetite. After such a large liquidation event, an increased appetite from futures traders is somewhat unexpected but professional investors are skilled at hedging their positions and executing complicated strategies involving options. To measure the impact of the recent liquidations …

This week’s $11,000 drop occurred in just 32 hours and this definitely an important milestone for Bitcoin (BTC) price. Many mainstream media outlets perceived the correction as the start of a new bear market but data simply does not support this line of thinking. Bitcoin price may have corrected 26.5% as if dropped to retest the $30,300 support but it has since shown significant strength amidst a record-high $160 billion in derivatives volume. Spot exchanges also outpaced their previous record high that was set just three days ago on Jan.9 as BTC soared to a new all-time high at $41,950. …

Trading activity on Bitcoin (BTC) exchanges spiked massively even as its price was suffering a major correction. According to data from crypto research firm Messari, Bitcoin’s real 24-hour trading volume is about $22.3 billion. To put this figure in context, Cointelegraph previously reported that Bitcoin’s real seven-day trading volume set a new all-time high of $60 billion. In only one day, exchanges have processed over a third of that sum, likely pointing to a new all-time high by the end of the week if the current momentum is sustained. Despite suffering service disruptions amid the price decline, Coinbase recorded about …

After Bitcoin (BTC) price flirted with a $42,000 all-time high on Jan. 8, it stabilized in a tightening range between $39,000 to $41,500 for two days and the pennant structure on the shorter-term timeframes hinted that a breakout to $45,000 was a possibility. This all changed quite suddenly Jan. 10 as the $39,000 support failed to hold and Bitcoin price entered a steep correction. A swirling and cruel 26.6% drop took BTC down to $30,100 over the next 30 hours and $1.5 billion in cascading liquidations at derivatives exchanges boosted the correction. Interestingly, this occurred just as the open interest …

Bitcoin (BTC) recently reclaimed $35,000, but top traders at Huobi, OKEx and Binance are not buying the breakout. Unlike the savvy institutional investors who may be desperate for protection against the debasement of fiat, the more crypto-focused investors seem to be waiting for dips. Institutional investors might also be celebrating the Jan. 4 announcement that the Office of the Comptroller of the Currency will allow banks to include stablecoins in bank-permissible functions. This further validates the crypto sector and may result in a rise in institutional participation in the space. Typically, after a new all-time high is achieved, Bitcoin price …