Bitcoin bulls welcome some BTC price relief while whales get busy accumulating nearly 50,000 BTC at the local lows.
Bitcoin
Deribit exchange data reveals that the put-to-call ratio for Bitcoin options contracts is currently at 0.50, with a maximum pain point of $61,000.
Bitcoin bulls have “lots of work to do” as they attempt to claw back lost ground after two-month BTC price lows.
Crypto traders are pointing to the M2 money supply turning positive as a bullish signal for Bitcoin.
This week’s 12% Bitcoin retreat was a “well-needed market cleansing,” said the former BitMEX boss.
The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.
Representatives Mike Flood and Wiley Nickel urged SEC Chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.