Bitcoin Option Traders Hedge Against Downside Risk as Price Dips to Near $32K
Options traders look to be preparing for further falls in bitcoin's price in the short-term, according to put-call skew data.
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While there are alternatives for binary options, users looking for something that is more of a trading tool and less of a gambling game should look at Coinut. A registered company in Singapore, Coinut allows you to profit or hedge risk in both a bulish or bearish market. If binary options isn’t for you, Coinut also offers vanilla trading, making it one of the most versatile exchanges out there. I spoke to Xini Wang, founder & CEO of Coinut regarding their exchange. What is Coinuts primary service it provides to users? Bitcoin is a risky investment, and its price has been dropping recently.....
Large-cap altcoins are attempting to rally higher but first bulls need to flip $24,000 to support. When the price of an asset hits a new all-time high, momentum traders plow in as they sense an opportunity to ride the trade higher. The same was seen after Bitcoin (BTC) price broke above the $20,000 mark on Dec. 16. By Dec. 19, the price had hit an intraday high at $24,197.46, a 21% rally in four days.These sharp moves in Bitcoin price attract traders who use derivatives to try and amplify their gains or hedge their existing positions by buying downside protection. This resulted in the open....
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for....
The pseudonymous trader said in his early Wednesday tweet that he is looking to open a high reward/risk short hedge against a likely Bitcoin top.