Bitcoin drops below $54K, stocks sell-off after new COVID-19 variant emerges
Bears took control of BTC price after options markets flashed bearish signals, but should traders be worried? Crypto exchange Deribit is the absolute leader in the Bitcoin (BTC) options markets, and on Nov. 24, the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.”We've seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive. In the short term, this expiry has a Max pain of $58k.....
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The news of the latest COVID variant is invoking a fresh wave of FUD among investors, with Bitcoin crashing down to $54k, and markets across the board slipping into the red. Bitcoin Plunges To $54k As News Of COVID Variant Emerges Financial markets are moving into the red on Friday as news of a new COVID variant makes investors around the world worried. According to a BBC report, this new variant was discovered in South Africa, and scientists have found it to be the most heavily mutated version so far. Not much is clear about the variant’s properties yet, but what looks to be most....
FOMO has grabbed hold of crypto speculators who have been loading up on Omicron tokens following the WHO’s naming of the latest COVID-19 variant. A relatively obscure cryptocurrency called Omicron (OMIC) has surged to an all-time high today as a new fast-spreading COVID-19 variant got christened with the same name.Omicron’s OMIC token hit an all-time high of $689 a couple of hours ago during the Monday morning Asian trading session. The move has added another 200% gains on the day for the token and a whopping 945% since Saturday when it was trading around $65.OMIC/USD 7days -....
The Wolf Of All Streets Podcast host, Scott Melker, called out attempts by the mainstream media to introduce a new Bitcoin FUD narrative. Melker raises doubts on the premise that returning fears over the new covid variant are responsible for the slide in Bitcoin price. “New FUD narrative that I am seeing across headlines- people […]
Bitcoin wrapped up this past Thanksgiving night with a bloody trading session. The first crypto by market cap was rejected as it made its way to $60,000 and has dropped over 6% in the 24-hour chart. As of press time, BTC trades at $54,084 but seems at risk of further downside. Related Reading | New COVID Variant FUD Drives Bitcoin Down To $54k Besides Bitcoin, the traditional finance market took a hefty dive on news of a recently discovered COVID-19 variant in Africa. This wrack havoc across many sectors with the S&P 500 and DOW Jones recording an almost 3% loss in the past 24 hours.....
Data shows Bitcoin open interest has remained high despite the dramatic sell-off that occurred a few days back due to fud from the new COVID variant. Bitcoin Open Interest Remains High Following The Sell-Off As per the latest weekly report from Arcane Research, the BTC open interest hasn’t fallen much in the past few days. This is despite the recent sell-off triggered by fresh fud from the new Omicron COVID variant. The “open interest” is an indicator that measures the amount of Bitcoin derivative contracts open at the end of a trading day. High values of the metric can....