Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low

Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million. In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options markets is a positive indicator. For example, derivative contracts allow miners to stabilize their income which…

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American Economist Stephen Roach: ‘U.S. Dollar in the Early Stages of Sharp Decent’

American economist and former chairman of Morgan Stanley Asia, Stephen Roach said on Sunday that he believes the U.S. dollar will “crash faster and harder.” Roach said similar statements during an interview back in June, and his latest commentary stresses that people should “expect the dollar to plunge by as much as 35 percent next year.” Stephen Roach is a well known American economist as he worked as chairman of Morgan Stanley Asia and he also advised as the company’s chief economist as well. Roach currently serves as a senior…

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Bitcoin price risks even bigger pullback in Q4 after sharp rejections

Bitcoin price is showing weakness after another sharp rejection from the $11,000 resistance level. As Bitcoin (BTC) enters the fourth quarter, the sentiment around the market remains generally cautious and neutral. Bitcoin might face a larger pullback in the fourth quarter due to several key factors. Throughout the past three years, every September monthly candle has closed red. The September monthly candle for 2020 is also on track to close as a red candle, indicating a lack of direction. From March through August, favorable financial conditions, a low-interest-rate environment and…

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