Crypto News: Why Bitcoin Price Is Down Today?

Bitcoin price dips below $64,000 amid a major sell-off and negative funding rate post-halving, facing volatility with $9.4B in crypto options expiring soon.

Highlights:

- Bitcoin price drops to $64,500, down 4% from intra-day high.

- Over 40 million long positions liquidated in an hour, totaling over $220 million in 24 hours.

- Negative funding rate post-halving suggests a bearish mood with short positions outweighing long positions.

- $9.4 billion in crypto options set to expire, potentially causing more price fluctuations.

Market Analysis:

BTC faces challenges to maintain its upward momentum. Technical indicators suggest a possible price trajectory change, with Bitcoin struggling to consolidate above $66,000.

However, market dynamics and recent studies indicate a potential continuation of a bullish trend in the long term, despite current setbacks.

Conclusion:

Arthur Hayes remains optimistic about Bitcoin's long-term trajectory, emphasizing its role as "the hardest money ever created." He predicts BTC will experience bullish growth as ongoing fiat inflation drives continued demand.