During the trading hours in the afternoon session on January 4, the price of BTC had weakened below 1 USD ...
According to Coindesk, the price at the time of writing is about 29,680 USD, corresponding to a decrease of more than 10% in the past 24 hours. Prices have fallen more than $ 3,600 in just two hours, from a high of $ 33,374.
Matthew Dibb, co-founder and COO of Stack Funds, said: “Bitcoin in the range of 32,000 - 34,000 USD is facing a lot of risks of selling. A correction is happening and this is needed. ”
"An excessive vertical move could cause the coin to 'fall' back to $ 20k, which is possible," said Michaël van de Poppe, trader and analyst.
Bitcoin price adding $ 5,000 to over $ 34,000 in the first three days of 2021, it's up more than 165% in the last quarter of the year - a huge increase in a quarter for a single cryptocurrency.
Data from the options market is showing that investors expect Bitcoin to remain volatile in the short term.
According to market analysis firm Skew, said: "Implied Volatility in the past month of Bitcoin has risen to a pretty high level, it has increased to almost 100%, the highest level since March 3".
Implied Volatility (IV) - Expectation volatility is a variable that shows the level of expectations for a market or an asset class over the next 4 weeks.
Sui Chung, CEO of CF Benchmarks said: “Bitcoin's Implied Volatility has hit ten-month highs because options traders assume that the key moves in the price action of the past ten days - have see the price of BTC rise to more than 34.000 USD - will continue to be maintained ”.
However, many analysts still hold the view that "in the short term, bitcoin will have a downside correction".
According to the data recently recorded on Glassnode, there are 190 million USD of long position liquidated above Binance in just 10 minutes - highest as of writing time.
Update the fastest cryptocurrency price 24/7 here:
If you do not have a Binance account, register here: https://blogtienao.com/go/binance