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Bitcoin Battles $70,000 Resistance: BTC Bulls Eye Resistance as Geopolitics and Macro Clouds Linger
After five weeks of unsuccessful attempts to surpass $74,000, Bitcoin is currently trading at about $70,000 on Wednesday. Even while the price has recovered a significant psychological level, skilled traders are not at all certain that a long-term rise is imminent, and the derivatives market supports them. chart Deribit call options with a $78,000 strike for the March 27 expiration traded at $704 on Wednesday, suggesting a less than 17% chance that Bitcoin will increase by 12% in the next two weeks. Similar results can be seen in the futures market, where the annualized premium on two-month Bitcoin contracts has ... (full story)
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