Market Wrap: Bitcoin Claws Back to $36.4K While 25% of Ether Options Will Expire in March

Market Wrap: Bitcoin Claws Back to $36.4K While 25% of Ether Options Will Expire in March


Bitcoin is making gains, though much of the day saw the cryptocurrency in a holding pattern. Meanwhile, a quarter of ether options are expiring in March, meaning traders are making some bets on the first fiscal quarter of 2021.

Bitcoin (BTC) trading around $36,286 as of 21:00 UTC (4 p.m. ET). Gaining 5.5% over the previous 24 hours. Bitcoin’s 24-hour range: $32,463-$36,552 (CoinDesk 20) BTC above the 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians.

Bitcoin trading on Bitstamp since Jan. 10.

Source: TradingView

Bitcoin was able to recover from a drop in price Wednesday. After going as low as $32,463 around 01:00 UTC (8 p.m. ET Tuesday), it was able to stay in a $34,500-$35,000 range before breaking out to $36,464 before settling at $36,286 as of press time.  

Read More: Analysts Are Gloomy About Bitcoin’s Short-Term Price Outlook Right Now

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