The bitcoin roller coaster has turned into a bumper car as equities take the stage in hopes of a global economic rebound.
Bitcoin’s jump up and right back down is at least partially due to the crypto derivatives markets.
The bitcoin market has nothing on oil’s volatility in 2020.
Stocks across Asia and Europe took a dip Friday and so did bitcoin in anticipation of Trump’s comments on “deeply troubling situations” in Hong Kong.
Bitcoin is riding high as short sellers in the crypto derivatives market get squeezed out, triggering automatic buy orders.
Traders were feeling good about bitcoin’s upward trend and pushed it over $9,100 Wednesday.
While bitcoin has been trending lower, Tuesday’s big winner in the markets are equities.
Bitcoin fell for a second day as sentiment grew bearish, though some traders say they’ll buy the dip.
Downward bitcoin prices could impact stakeholders more than ever before, including derivatives traders and miners.
Ether is outperforming bitcoin in 2020 but has lower liquidity and different technical dynamics than the world’s largest cryptocurrency.
Bitcoin treaded water in the high $9,000 range Monday as stocks rallied and traders wondered when the cryptocurrency would break five digits again.
Bitcoin attempted to recover from a price dip on Friday as global stock indexes end the week lower.
Bitcoin has seen double-digit gains in price since the halving. Institutional investors doing more trading in crypto options on CME is a sign of continued interest.
A slowly rising bitcoin price might not help some miners run profitable operations now that the halving is in the past.
Based on the rise of daily active bitcoin addresses, the highest number since 2018, interest could continue now that the halving is complete.