Bitcoin derivatives suggest $26K resistance level won't hold for long

Bitcoin derivatives suggest $26K resistance level won’t hold for long

BTC margin and option markets show no signs of discomfort or overconfidence despite 28% gains in two days.

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The price of Bitcoin (BTC) increased by 28% between March 12-14, reaching $26,500, its highest level since June 2022. Some may attribute the gains to the consumer price index’s (CPI) 6% year-over-year increase in February, even though the figure was in line with expectations.

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The inflation metric reached its lowest level since September 2021, which is a positive development, but it does not validate the Federal Reserve’s attempt to reduce the metric to 2%. Most likely, risk markets, such as stocks and cryptocurrencies, soared after regional bank stocks recovered from their March

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