CRYPTO NEWS - Bitcoin is Back to $29000 - Crypto Market is in Red Only BNB is Growing
CRYPTO NEWS - Bitcoin is Back to $29000 - Crypto Market is in Red Only BNB is Growing
00:01 Intro
01:12 Crypto News Today
02:08 Bitcoin News
03:21 Ethereum News
04:11 Bitcoin Technical Analysys
06:03 Bitcoin Price Prediction
09:54 Outro
he world’s largest cryptocurrency Bitcoin (BTC) continues to face strong selling pressure. On Monday, May 23, the BTC price tanked 3% moving under $30,000 despite the U.S. equity market moving higher.
Bitcoin continues to trade in the range of $28,500-$31,500 for a while now. Glassnode data shows that the BTC market has traded lower for eight consecutive weeks marking it the longest “continuous string of red weekly candles in history”.
Furthermore, a look into the Bitcoin derivatives market suggests the risks of further downside, at least over the next three to six months. In its latest report, on-chain data provider Glassnode explains that the Bitcoin options market continues to price in the near-term uncertainty.
During the market sell-off last week, the Bitcoin options implied volatility surged significantly. Glassnode explains:
Short-dated at-the-money options saw IV more than double, from 50% to 110%, whilst 6-month dated option IV jumped to 75%. This is a break higher from what has been a long period of very low implied IV levels.
#crypto #bitcoin #btc #cryptocurrency
00:01 Intro
01:12 Crypto News Today
02:08 Bitcoin News
03:21 Ethereum News
04:11 Bitcoin Technical Analysys
06:03 Bitcoin Price Prediction
09:54 Outro
he world’s largest cryptocurrency Bitcoin (BTC) continues to face strong selling pressure. On Monday, May 23, the BTC price tanked 3% moving under $30,000 despite the U.S. equity market moving higher.
Bitcoin continues to trade in the range of $28,500-$31,500 for a while now. Glassnode data shows that the BTC market has traded lower for eight consecutive weeks marking it the longest “continuous string of red weekly candles in history”.
Furthermore, a look into the Bitcoin derivatives market suggests the risks of further downside, at least over the next three to six months. In its latest report, on-chain data provider Glassnode explains that the Bitcoin options market continues to price in the near-term uncertainty.
During the market sell-off last week, the Bitcoin options implied volatility surged significantly. Glassnode explains:
Short-dated at-the-money options saw IV more than double, from 50% to 110%, whilst 6-month dated option IV jumped to 75%. This is a break higher from what has been a long period of very low implied IV levels.
#crypto #bitcoin #btc #cryptocurrency
