Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets

Market Wrap: Bitcoin Has Light Response to OKEx While Ether Options Traders Make Beacon Bets


Bitcoin rebounded from an OKEx-related drop; ether options traders may be beacon chain bearish. 

Bitcoin (BTC) trading around $11,327 as of 20:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,199-$11,623 BTC below its 10-day moving average but above the 50-day, a sideways signal for market technicians.

Bitcoin trading on Bitstamp since Oct. 14.

Source: TradingView

Bitcoin’s price moved as high as $11,623 late Thursday/early Friday but trades at that height were short-lived. Spot traders punched the sell button around 04:00 UTC (12:00 a.m ET) on the news that Malta-based exchange OKEx suspended withdrawals due to an investigation of a key operations person. Bitcoin fell as low as $11,199 on spot exchanges such as Bitstamp before rebounding a bit, up to $11,327 at press time. 

Read More: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried

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