Bitcoin has recently experienced heightened volatility, suggesting a potential shift back to options-driven price movements. Analyst Jeff Park points to market fluctuations reminiscent of pre-ETF launch periods, as Bitcoin has seen a significant decline of over 25% from its peak, erasing $1 trillion from the crypto market.
Despite this downturn, experts attribute the changes to tactical rebalancing rather than a lack of institutional interest. Some analysts, like David Duong from Coinbase, view this as a phase of long-term accumulation, citing evidence of renewed whale activity.
Moreover, a sharp drop in Bitcoin's open interest raises hopes for a bullish trend if prices rebound. NYDIG's Greg Cipolaro argues that the recent drop is a result of Bitcoin's own success, with liquidity shifts impacting demand.
However, Mike McGlone warns of dire scenarios if market pressures persist, indicating a potential decline to $10,000. Overall, while the immediate outlook appears uncertain, the long-term trajectory for Bitcoin remains a point of contention among analysts.
infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand
