Bitcoin ‘debasement trade’ is here to stay: JPMorgan
Investors are boosting Bitcoin allocations as a hedge against geopolitical uncertainty, the bank said.
Auto Added by WPeMatico
Investors are boosting Bitcoin allocations as a hedge against geopolitical uncertainty, the bank said.
Bitcoin traders’ realized losses have likely peaked, possibly marking the bottom of the current BTC price sell-off.
Bitcoin investors realized profits as BTC price hit new all-time highs throughout November. Now that the metric has reset, new highs could be in store.
Bitcoin leveraged bets are off the table after repeated washouts — but BTC price action is seen beating all-time highs within days.
Bitcoin’s rebound from this week’s flash crash re-set key price metrics and paved a path for BTC to chase after the $115,000 level.
Crypto exchanges clocked more than $10 trillion in volume across spot and derivatives markets, CCData said.
Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of “overheating.”
As Bitcoin prices soared following the election, big banks are reportedly accruing $1.4 billion from futures contracts.
Bitcoin’s price rejection at $68,500 and the record high use of leverage could be signs that BTC is in for a sharp correction.
Arkham Intelligence’s token, ARKM, is up more than 16% on the news, according to CoinGecko.
