Market Wrap: Bitcoin Plunges to $30.3K as Options Traders Bet on Sub-$800 Ether
Bitcoin’s huge sell-off by over $8,000 in the past 24 hours while options traders clearly are betting that ether is overvalued.
The price of bitcoin has traded in a tight range Tuesday.
Bitcoin may be down now but there is still growing demand for crypto assets, one analyst said.
Bitcoin fell by over $3,300 while options traders see ether going higher.
Bitcoin’s price is on a rising trend for the first time this week.
Though bitcoin's rally has lost some steam, many traders are still in a bullish mood – and shifting to alternative cryptocurrencies known as "altcoins" whose prices have yet to clear all-time highs from years past.