"Bitcoin plummeted to a session low of $66,201 at approximately 7 a.m. EST, marking a significant retreat as market patience wears thin over geopolitical tensions."
"The expiration of approximately $14.16 billion in bitcoin options on the Deribit exchange represents nearly 40% of the exchange's total open interest, contributing to market pressure."
Bitcoin dropped below $67,000 for the first time since March 9, influenced by geopolitical tensions and an upcoming $14.16 billion derivatives settlement. The cryptocurrency hit a low of $66,201 before recovering slightly to $66,700. This decline has erased nearly all gains from early March. Analysts note that the expiration of options on the Deribit exchange, representing 40% of its open interest, is a structural headwind. The max pain point for this expiry is around $75,000, affecting market volatility and price action.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]