Points
- Bitcoinistradingbelow$58k,down4%inthepast24hours.
- Thepricedropisduetomultiplesell-offsandbeginnerinvestorscapitulating.
- BTC’smajorshort-termIVsareup10%,andDvolisupby3%.
- Optionsmarketdatashowsthatwhalesarenotworriedaboutpotentialdownsiderisks.
Bitcoin’sprice saw a drop today below the$57,000mark.Earlier,the coin traded at around$56,200before a quick rebound at the current price near$58,000.At the moment of writing thisarticle,BTC is down by4%in the past24hours.
There are multiple factors contributing to the current price drop forBTC.Earlier,Greeks.liveshared a post viaX,addressing the fact that crypto markets suffered heavy losses due to multiplesell-offsthat sent BTC to$57,000.
https://x.com/GreeksLive/status/1808870896352047544
BTC Block put volume is currently on therise,and the distribution of transactions is morecomplex,according to theirnotes.Whales are reportedly not worried about potential downside risks and are mainly adjusting their positions for lastweek’squarterlydelivery.
Bitcoin’scurrentlevelissimilartothemajorcorrectioninthesummerof2021
Head of Research atCryptoQuant,JulioMoreno,noted via his X account that on a valuationperspective,BTC is currently at a level where it is bottoming or experiencing a major correction similar to the summer of2021.
He expectsthreepotentialoutcomes:BTCbottomingoutfornow,afurthercorrection,orworst-casescenario,thebeginningofabearmarket.MorenosharedthatMetcalfePriceValuationhintsatthe$56,000levelasasupportforBTC’sprice,otherwise,wecouldseeamoreseverecorrection.
https://x.com/cryptoquant_com/status/1808848168806727953
解説
- ThecurrentBTCpricedropisinfluencedbymarketsell-offsandbeginnerinvestorscapitulating.
- Analyzingoptionsmarketdatahelpsunderstandthesentimentofwhalesandtheirstrategies.
- ThepotentialoutcomesofBTC’spricemovementcanguideinvestorsonpossiblemarketdirections.