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$43K BTC flipping support? Not anytime soon, according to derivative metrics

Cryptocurrency Mar 22, 2022 10:00PM ET
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© Reuters.

Bitcoin (BTC) showed strength on March 22, posting a 5% gain and testing the $43,000 resistance. The move liquidated over $150 million worth of leverage short positions, those betting on a declining price using futures contracts.

Some Twitter (NYSE:TWTR) analysts attribute the price improvement to the Do Kwon, the co-founder of blockchain protocol Terra. During a recent Twitter Spaces conversation with analyst Udi Wertheimer, Kwon revealed his plans to back the TerraUSD stablecoin with Bitcoin.

OKEx USDT/BTC margin lending ratio. Source: OKEx
Bitcoin 30-day options show 25% delta skew: Source: Laevitas.ch

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$43K BTC flipping support? Not anytime soon, according to derivative metrics
 

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