Bitcoin fell below $59,000 to an intraday low of $58,189, driven by nearly $692 million in US spot Bitcoin ETF outflows and a $10.6 billion options expiry. Over $1.1 billion in leveraged crypto bets were liquidated, with traders on Myriad predicting a further drop to $55,000.
Bitcoin ETFs experienced significant outflows, totaling $469 million, signaling waning institutional interest. This, coupled with a put-heavy options expiry and rising US Treasury yields, has shifted investor focus towards tech stocks, which are showing strong performance.
Bitcoin experienced significant outflows from spot ETFs and a bearish options expiry, signaling waning institutional demand. Investors are shifting focus to tech stocks, driven by strong earnings and government support for AI initiatives, while fixed income offers a safer hedge.
Bitcoin faces significant volatility this week with the release of May PCE inflation data on Thursday and a massive $10 billion Bitcoin options expiry on Friday. These events could trigger sharp price movements, amplified by dealer hedging and market liquidity.
The financial world is shifting from ownership to optionality, with derivatives like options and futures becoming dominant. Crypto markets led this trend, and traditional markets are now following suit, driven by demand for flexibility and exposure to probability.
Comprehensive up-to-date news coverage, aggregated from sources all over the world by Google News.
Comprehensive up-to-date news coverage, aggregated from sources all over the world by Google News.
Bitcoin faces $8.07 billion options expiry on Deribit April 24 with bullish call skew but max pain near $71,500-$72,000, creating structural tension. The expiry occurs three days before the Fed's April 28-29 meeting and four days before Q1 GDP and PCE inflation data, amid oil-driven inflation concerns from the Strait of Hormuz closure. Fed officials have warned elevated rates may persist longer than markets expected.
