Bitcoin Drops as Investors Buy $22K and $20K Puts
- Date: 19-Jul-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Drops as Investors Buy $22K and $20K Puts
Bitcoin is falling a day after the options market saw increased demand for out-of-the-money or lower strike put options at $22,000 and $20,000.
The leading cryptocurrency was trading at a three-week low of $30,700 at press time, representing a 3.5% drop on the day. The decline has flipped the crucial 50-week simple moving average (SMA) support of $32,250 into resistance.