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Home NEWS NEWS BITCOIN "Bitcoin is facing a lot of big selling risks"

"Bitcoin is facing many big risks of selling"

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"Bitcoin is facing a lot of big selling risks"

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".

Bitcoin's expected volatility

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.

liquidating a long position on binance


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