Bitcoin is slipping below $19,000. U.S. index contracts point to a flat opening, with a slight bearish advantage. The NASDAQ is losing after Snap's weak report and weakened sentiment around companies in the advertising sector:
- $510 million worth of options on Bitcoin expire today, supporting a scenario of elevated volatility ahead of the weekend;
- Volatility in the cryptocurrency sector has fallen recently, although the market is moderately in agreement that it will have to rise in the near term
- Sellers gain the upper hand with a drop below $19,000 and may position lower expecting a drop near June lows;
- Bulls were 'burned' by the November 13 liquidation cascade, when a weak inflation reading from the U.S. prompted the immediate liquidation of $80 million worth of bullish positions in the BTC options market
The ratio of call (call) and put (put) options pointed to 0.77 yesterday giving the advantage to the selling side. Nearly $290 million worth of options lay on the supply side against $220 million worth of bullish options. Source: CoinGlass
Bitcoin, D1 interval. The price of the major cryptocurrency is moving in a bearish descending triangle formation from which most of the breakouts are downward, amid increasing supply pressure and weakening demand. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
