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: 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.