Here’s why bitcoin turned lower from the 200-day average
BTC recently turned lower from the 200-day average, a barometer of long-term trends. CryptoQuant explains why.
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BTC recently turned lower from the 200-day average, a barometer of long-term trends. CryptoQuant explains why.
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Bitcoin climbed to about $77,200, while XRP, ether and solana also gained as Treasury yields and oil fell.
BTC’s implied volatility remains low despite the recent price selloff. Options specialist prefers a long straddle strategy in this scenario.
The research firm said bitcoin traders remain unusually defensive, reducing the risk of the kind of leverage-driven collapse seen in prior downturns.
CoinShares data shows investors are rotating into listed products based on XRP and SOL while bitcoin and ethereum products posted heavy weekly outflows.
Bitcoin has fallen about 6% from $82,000 to $76,800, and underlying data point to the drop being more than a routine pullback.
Bitcoin Depot, the largest bitcoin ATM operator in North America and publicly listed on Nasdaq, has filed for Chapter 11 bankruptcy.
Ether and bitcoin led liquidations, as their prices dropped on macroeconomic concerns.
Long-term holders are still sitting tight and exchange balances remain near six-year lows, Binance Research data shows, but underwater short-term holders leave BTC vulnerable to macro shocks.