SignalPlus Volatility Column (20240704): BTC falls below 60,000

Analysis2wks agoreleased 6086cf...
12 0

SignalPlus Volatility Column (20240704): BTC falls below 60,000

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Although Powell deliberately avoided the question of whether to cut interest rates in September during his speech on Tuesday and emphasized the two-way risks of adjusting monetary policy, yesterdays weak economic data still boosted market confidence in rate cuts. U.S. Treasury yields generally fell, with the Dow Jones Industrial Average down 0.06%, the Nasdaq closing up 0.88%, and the SP rising 0.5% to break its historical high again.

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Source: SignalPlus, Econimic Calendar

In terms of digital currency, the short-term positive news released at the macro level has not been able to dispel the haze hanging over the BTC price. According to reports, the German government transferred $172M worth of Bitcoin from its wallet to the three exchanges Coinbase, Kraken and Bitstamp. In addition, the US government also made a similar move some time ago (selling the payment for Silk Road), and the recent repayment of Mt. Gox have brought strong selling pressure to the market.

The BTC price also fell below the extremely important psychological support level of $60,000 today. It once fell below 57,000 and then rebounded to 58,000, resulting in a shortage of short-term put options for 5 JUL and 12 JUL, pushing the IV curve out of the recent ultra-low level and moving higher. At the same time, the 26 JUL call option was also sold in large quantities, and the market sentiment in the short term is quite pessimistic.

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Source: Deribit (as of 4 JUL 16:00 UTC+8)

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Source: SignalPlus

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Data Source: Deribit, overall distribution of BTC transactions

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Data Source: Deribit, overall distribution of ETH transactions

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Source: Deribit Block Trade

SignalPlus Volatility Column (20240704): BTC falls below 60,000

Source: Deribit Block Trade

SignalPlus Volatility Column (20240704): BTC falls below 60,000

You can search for SignalPlus in the Plugin Store of ChatGPT 4.0 to get real-time encryption information. If you want to receive our updates immediately, please follow our Twitter account @SignalPlus_Web3, or join our WeChat group (add assistant WeChat: SignalPlus 123), Telegram group and Discord community to communicate and interact with more friends. SignalPlus Official Website: https://www.signalplus.com

This article is sourced from the internet: SignalPlus Volatility Column (20240704): BTC falls below 60,000

Related: Trump meets with top miners: Make sure the key Bitcoin industry stays in the United States

Original author: Chloe, PANews On June 12, former US President Trump posted on Truth Social that he hopes that all remaining Bitcoins will be mined in the United States. In his post, Trump mentioned that this move is aimed at ensuring that key Bitcoin industries can remain in the United States to strengthen the countrys control over cryptocurrencies and economic influence. Presidential Roundtable on Bitcoin Mining Several bitcoin mining industry representatives met with former President Trump at Mar-a-Lago on Tuesday night, according to Matthew Schultz, executive chairman of bitcoin mining company CleanSpark Inc. Schultz said Trump told attendees that he likes and understands cryptocurrencies, adding that bitcoin miners help stabilize energy supply on the grid. Schultz also said Trump said he would advocate for miners at the White House. Dubbed…

© Copyright Notice

Related articles

No comments

You must be logged in to leave a comment!
Login immediately
No comments...