Another Data Point Suggests Bitcoin Close to Prolonged Bull Market
Bitcoin could be on the verge of breaking into a multi-month bull run, according to a lesser-known data metric.
The put-call volume ratio of bitcoin options suggests Monday's price decline could be short-lived. However, the cryptocurrency remains vulnerable to a further sell-off in stocks.
Fear has crept back into cryptocurrency and traditional financial markets, with bitcoin falling alongside U.S. stocks on Thursday.
A fresh stimulus "bazooka" from the Fed Reserve and the U.S. government lifted prices for both stocks and bitcoin.
The week-long calm in the bitcoin market ended with a sudden $800 price drop on Thursday. Here's three likely reasons why.
With the Fed dashing hopes of a V-shaped recovery, it's uncertain whether bitcoin will become a store of value or begin to track stocks.
After another failure above the $10,000 mark, some bitcoin traders are now looking ahead to this week's European Central Bank meeting, where authorities could commit to an extra €500 billion in money injections – er, asset purchases.