Bitcoin retraces intraday gains as bears aim to pin BTC price under $18K

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Bitcoin is struggling to turn $18,000 to support and noshitcoins explains why bears will fight for their lives in this week's $370 million BTC options expiry.

) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures in 3 days, which reclaimed the critical 4,000 points support.While BTC price started the day in favor of bulls, investors anxiously awaited the U.S. Federal Reserve Committee's decision on interest rates, along with Fed chair Jerome Powell's remarks. The subsequent 0.

Until there's a clearer guide on the economic policies of the world's largest economy, Bitcoin traders are likely to remain skeptical of a sustained price movement, regardless of the direction.The open interest for the Dec. 16 options expiry is $370 million, but the actual figure will be lower since bears were caught off-guard after the move to $18,000 on Dec. 14.

This crude estimate considers the put options used in bearish bets and the call options exclusively in neutral-to-bullish trades. Even so, this oversimplification disregards more complex investment strategies.

 

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noshitcoins I'm going to continue to actively spend usdt to buy bitcoin

noshitcoins How is it you carry a staggering 2.7m followers and only 20-30 likes surprises me lol cant wait for bots to be gone.

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