In the latest episode of Cointelegraph’s The Market Report, analyst Marcel Pechman discussed Bitcoin’s recent drop to $26,000. Derivatives market analysis showed that options and futures metrics lacked signs of professional traders going bearish, and while this doesn’t guarantee a quick return to $29,000 support, it reduces the chances of an extended correction.Pechman presented a Kaiko data chart on BTC liquidity and volatility, which significantly decreased since the FTX collapse in November 2022. With no liquidity issues or heightened volatility indicated, the 11.4% mid-August price drop worsened conditions due to the largest futures liquidations since November 2022.Bitcoin futures premium settled at a neutral 6% after the recent $26,000 crash, signaling balanced demand between leveraged longs and shorts. This aligns with a neutral -7% to 7% BTC options skew, suggesting reasonable downside protection prices.Pechman also discussed macroeconomic analyst Lyn Alden’s take on a common currency proposal among BRICS nations (Brazil, Russia, India, China and South Africa). Alden doesn’t see it succeeding, and noted a weakened United States dollar if BRICS use their own currencies for foreign trade, giving unconventional advice to crypto investors.
| Information |
Details |
| Geography |
Asia |
| Countries |
🇧🇷 🇮🇳 🇨🇳 🇿🇦 |
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
Marcel Pechman, Lyn Alden |
| Companies |
Cointelegraph, Kaiko, FTX, BRICS, YouTube |
| Currencies |
BRICS, USD, Bitcoin, Ethereum, None |
| Securities |
None |
