𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝘀𝗽𝗼𝘁 𝗽𝗿𝗶𝗰𝗲 𝗮𝗰𝘁𝗶𝗼𝗻 𝗱𝗼𝗲𝘀 𝗹𝗶𝘁𝘁𝗹𝗲 𝘁𝗼 𝘀𝗽𝗼𝗼𝗸 𝗕𝗧𝗖 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 𝘁𝗿𝗮𝗱𝗲𝗿𝘀

Bitcoin futures and options signal investors’ confidence was not meaningfully impacted by BTC’s recent dip to $61,500.

The 13.3% drop in Bitcoin

BTC🔻$63,315 price between April 12 and April 13 forced many traders out, primarily those who had leveraged their positions. This significant movement triggered $387 million in forced liquidations of long positions and reduced the open interest by $5.4 billion. At first glance, the price action and its effect on the derivatives markets suggest a decreased risk appetite.

Yet, cryptocurrency traders are accustomed to volatility and often overreact during uncertain times. A closer examination is necessary to determine whether the retest of $61,500 was sufficient to instill fear or to signal that the path to $72,000 and a potential all-time high after the Bitcoin halving is now less probable.

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