Bitcoin (BTC), trading just above $64,000 in Asian morning hours, has been through a rough patch.
“The combination of an unexpected rise in US treasury yields, the strengthening of the dollar, and geopolitical risks in the Middle East has put pressure on crypto markets,” Jun-young Heo, a derivatives trader at Singapore-based Presto, said in an interview with CoinDesk.
Yeo stated that the risk aversion trend was also reflected in the derivatives market, with funding rates on some exchanges changing negatively and three-month returns falling to 10%.
“Short-term put options are more expensive than call options for both BTC and ETH,” Heo added.
Liquidations over the last 12 hours have been almost evenly split between bullish and bearish futures bets. A long position of $31.1 million was liquidated and a short position of $36.49 million was rectified.
“It looks like investors haven't benefited much from the all-time highs, but they disagree that there may be a complete decline,” Justin d'Anethan, head of business development at Keyrock, a crypto market maker in Hong Kong, said in a note to CoinDesk.
CoinDesk 20 Index, which measures the performance of the world's largest digital assets, is trading flat at 2,174.
Addressing the impact of catalysts, d'Anethan added: “With surprisingly high inflation and of course rising tensions in the Middle East, hawkish interest rate expectations and macro catalysts appear to have dominated all risk assets.”
d'Anethan states that horizontal price movements in crypto and staying within a certain range can victimize leverage traders.
Heo continues: "In order to rise again, some time or another catalyst is needed rather than the usual events."
PLEASE READ CAREFULLY FOR THE GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can get it done in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.