Bitcoin is short-term bearish, traders say, as the options market hints at consolidation.
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Bitcoin is short-term bearish, traders say, as the options market hints at consolidation.
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Data show pro traders are still bullish even as Bitcoin price dips below $30,000 and Friday’s $4 billion BTC options expiry approaches.
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The price of Bitcoin dropped below $30,000 in a quick swoop on the third retest in two weeks of the support area.
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Bitcoin price action mimics recent lows, but traders are all focused on GameStop and the power of crowd investment.
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The rush into decentralized investment will only serve to fuel Bitcoin’s position, the investor says amid outrage at GameStop’s performance.
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A handful of DeFi tokens saw strong rallies even as bears continue to pin Bitcoin price below $33,000.
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Key Bitcoin price metrics show the recent 12% drop to $30,800 has not stopped traders from buying dips ahead of this Friday’s $4.9 billion BTC futures expiry.
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Analysis of sellers’ profits this week increasingly points to an imminent return to upside for BTC/USD.
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Prominent Bitcoin analyst, David Puell, says there are two things that could cause Bitcoin to top out in the future.
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Selling and frantic trading continue while exchanges see more BTC enter than leave.
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