In other words, buyers of call and put options expiring on April 30 will suffer maximum loss if bitcoin settles at $54,000 on Friday.
“Options and futures are new critical datapoints for traders.
The month-end pullbacks happened as back then the max pain point was well below the spot price.
At press time, bitcoin is changing hands near $54,500, representing a nearly 1% gain on the day.
Shares eased from record peaks on Tuesday as optimism about a global economic recovery was dented by caution before a policy decision by the Federal Reserve and earnings updates from a number of blue-chip companies.
Anatoly Crachilov, co-founder and CEO of Nickel Digital Asset Management, which manages assets worth $200 million, told the Reuters Global Markets Forum that regulatory uncertainty was a drag on the development of the crypto space.
Ethereum, the world’s second largest cryptocurrency in terms of market capitalisation, touched a new peak on Wednesday, with participants citing media reports about the European Investment Bank’s plans to launch a “digital bond” sale on the ethereum blockchain network.
Firms in Japan, which was an early leader in Bitcoin acceptance, have been slow to join this trend.Nexon said it intended to guard itself against a potential drop in the value of non-digital currencies in case of inflation, with Mahoney seeing Bitcoin as a “form of cash likely to retain its value, even if it is not yet widely-recognized as such.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Bitcoin update BTC has been moving downwards since April 14, when it reached a high of $64,854.
are lobbying their government against the transaction, while a regulator in the U.K., where Arm is based, said it plans to intervene “on national security grounds.” At the same time, Arm is mired in a legal battle for control of its China unit with the chief executive, who was fired by SoftBank but has refused to leave.“Unless there is a catalyst to expand its net asset value, it is probable that we will see the discount widening out again,” Tang said.