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bitcoin

Bitcoin stumbles 9 % ahead of Bitcoin options Expiry

Bitcoin options expiry of $6 billion approaches this Friday and Bitcoin has already lost more than 9% since December 27 by dragging the market cap from $2.45 trillion to $2.26 trillion.

Bitcoin price today is $46,913.42 USD with a 24-hour trading volume of $30,313,193,540 USD. Bitcoin is down 4.57% in the last 24 hours, with a  market cap of $887,328,002,423 USD. It has a circulating supply of 18,914,162 BTC coins.

Bitcoin stumbles
Source: Tradingview

Bitcoin stumbles: Analysis

Bitcoin leverage ratio peaked to an all-time high yesterday and the Bitcoin options expiry of $6 billion approaches this Friday: these two factors have caused Bitcoin to scramble for support. Currently, Bitcoin is resting at $47,000 below EMA 20 indicating a volatile bearish trend. There are chances for Bitcoin to test the support of $4500, fib 1.272 on Friday. The resistance remains at the high of December 27 at $52000.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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