[ad_1]
While the leading cryptocurrency Bitcoin (BTC) exceeded $ 100,000 following below-expected non-farm employment data, QCP Capital shared its current analysis.
Analysts stated that BTC’s failure to regain the $99,000 resistance in recent days has intensified sales and caused an uncertain market outlook, and that Bitcoin is at risk of retreating towards $80-90,000.
Analysts stated that investors are focusing on BTC put options of $80,000 dated February 28, 2025 and $90,000 dated February 21, 2025, indicating that investors remain cautious and the market continues to price in downside risks.
“Continuing to observe interest in BTC 28FEB25 80K puts and BTC 21FEB25 90K puts on the options desk.
This reflects investors’ persistent caution against possible downside despite the general trend favoring call options.”
OCP Capital analysts noted that while the market is currently preparing for a possible decline, there is also some good news.
This good news was accompanied by the US SEC downsizing its crypto enforcement division as part of a crackdown on cryptocurrencies and the FDIC working on guidelines that would allow banks to begin cryptocurrency activities without prior regulatory approval.
Lastly, QCP analysts said that the most significant event last night was Binance’s listing of BERA, which sent the price soaring to $15.50 before settling at around $7.60. According to analysts, the BERA rally contributed to last night’s altcoin sell-off by diverting liquidity away from other altcoins.
*This is not investment advice.
[ad_2]
