Although Bitcoin (BTC) can be traded 24/7, its candles open and close the same daily as foreign exchange markets. The latest data of the tradingview shows on Tuesday’s candle (UTC) at $ 106,830, which is the most daily closing price.
Investors put money in the spot exchange-traded funds (ETFs) amidst chaotic price action at Bond Markets, as the growing concerns about the fiscal health of major economies including the US were suggested.
Analysts told Coindesk last week that the deteriorating fiscal loan could be well for BTC and other assets such as gold.
Coin bitcoin premium indexWhich measures the percentage difference between the price of bitcoin on the Coinbase Pro (USD pair) and the price difference between the price on benance (USDT trading pair), remain positive, indicating frequent purchase pressure from the US-based investors.
With uptrend in progress, the next major level to see is $ 110,000. The BTC option of Deribit tracked by Amberdata shows market data that dealers or market makers have placed a large pure “negative gamma” exposure at the level of $ 110,000.
Deal gamma -having dealer usually trading/defending the market towards the market to maintain their overall market exposure delta neutral. In turn, recession grows rapidly.
In other words, the rally may accelerate a possible breakout over a mark of $ 110,000. Option market has increased significantly in the last five years, with dealer hedging adds volatility on several occasions.
