Bitcoin is still trading at $10,000 as all eyes begin to focus on the end of upcoming futures on Friday.
Bitcoin price retest five-digit support
Data from the Coin360 showed a new downward trend for BTC/USD in the last 24 hours. In the markets, Bitcoin fell from $10,400 to $10,100.
Bitcoin suffered a 6% depreciation last week. On a monthly basis, it did not exceed $ 12,000. Therefore, volatility is not at high levels.
Now, commentators expect the effects of Friday’s CME futures on the markets to cease. As the Twitter account known as Skew stated on Tuesday, about 50% of open positions will expire on this date. In this case, volatility can be expected.
Termination of futures tends to increase volatility for Bitcoin. However, different events can behave historically in different ways. However, appetite among investors is downward, Skew says.
BAZILARI SOME OF THESE POSITIONS WILL BE TRANSFERRED, BUT GENERAL CORPORATE INVESTORS ARE LOOKING ELSEWHERE IN AUGUST! ”
Other commentators emphasize the relationship between futures and market activity.
However, Bitcoin’s strong network data reminds that the cryptocurrency is an increasingly secure port. Overall market volatility has reached eight-week low this week.