Bitcoin drops toward $58,000 as dollar hits 40-year high against yen, open interest surges
By
@cointelegraph
Summary
Bitcoin (BTC) fell toward $58,000 as the quarterly close approached, with the US dollar hitting a 40-year high against the yen. Open interest surged as traders entered large long positions during the dip, with commentators expecting increased volatility. The $60,000 level appeared to be losing support, and analysts noted signs of "capitulation" by those who bought at the top.
Source
bskyBitcoin drops toward $58,000 as dollar hits 40-year high against yen, open interest surgescointelegraph.comKey quotes
· 3 pulledOpen Interest pumping, noticed some large longs entering on this dip, it's about to get spicy
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
With $60,000 increasingly looking lost as support, commentators saw the tussle between bulls and bears continuing on short time frames
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