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Bitcoin fails to hold $70,000 level
Bitcoin is closing the week unable to hold the $70,000 level it surpassed during its midweek rally, rising to nearly $74,000 on Wednesday. The asset is down roughly 4% on Friday morning, hovering in the $68,000 level as the war in Iran continues to pressure risk assets, something option traders saw coming. Deribit data shows that “the largest concentration of open interest is clustered around downside protection at $60,000. That signals traders are betting the recent rebound may not last,” Bloomberg reported. Greg Magadini, director of derivatives at Amberdata, told Sherwood News that dealer inventory shows a ... (full story)
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