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Torik Sh
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Experts explained Bitcoin's pullback as a 'breather' before Thanksgiving Day
Bitcoin's path to the psychological level of $100,000 has 'stalled' amid $430 million in long liquidations and increased concerns regarding the upcoming inflation data and Fed protocol on November 27. This conclusion was reached by CryptoQuant. Specialists also mentioned an outflow from BTC-ETF amounting to $438 million.
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The situation could have been exacerbated by the holiday in the USA, falling on November 28 (Thanksgiving Day).
Experts noted that the trigger for the turnaround was MicroStrategy's purchase of 55,500 BTC for $5.4 billion.
Implied volatility has shifted towards puts, 'as the market takes a breather,' analysts concluded. 'After the elections, the market became extremely overbought due to excessive leverage, making a pause inevitable,' explained the expert.
Bitcoin's path to the psychological level of $100,000 has 'stalled' amid $430 million in long liquidations and increased concerns regarding the upcoming inflation data and Fed protocol on November 27. This conclusion was reached by CryptoQuant. Specialists also mentioned an outflow from BTC-ETF amounting to $438 million.
1911707004745964333957
The situation could have been exacerbated by the holiday in the USA, falling on November 28 (Thanksgiving Day).
Experts noted that the trigger for the turnaround was MicroStrategy's purchase of 55,500 BTC for $5.4 billion.
Implied volatility has shifted towards puts, 'as the market takes a breather,' analysts concluded. 'After the elections, the market became extremely overbought due to excessive leverage, making a pause inevitable,' explained the expert.
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