Bitcoin dropped by more than 37 percent of the peaks after investors on the one hand blocked their investments to other crypto-currency and on the other hand caches a large part of their pre-holiday positions.
As mentioned earlier this week, the opportunity for big investors to hedge their portfolios through short positions of CME and CBOE's futures will result in additional pressures on Bitcoin. This is because high Cp benchmark prices have enabled large investors to cache "dear" and by doing so they have pushed the price down, and a lower price than the peaks means a new gain on the short positions of futures.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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