Market Wrap: Bitcoin Pushes Higher as Traditional Markets Decline

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MARKET WRAP: $BTC rose Monday to reclaim the $19,000 level but traditional markets fell. GWilliamsJr_CMT and _jocelynyang_ report

Ten-year Treasury yield daily close: 3.88%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atDespite turmoil in traditional financial markets, bitcoin is holding up relatively well on Monday. Its resilience is interesting given its tendency to trade in concert with the Nasdaq Composite, which is down 0.

BTC still appears decidedly neutral and is essentially trading where it was in mid to late June. The short-term price peak realized in mid August has been followed by a persistent decline to current levels. , options open interest by strike price showed some appetite for risk, but even that appears to have waned as call open interest at the $20,000 strike price has decreased.

The option open interest put/call ratio has also moved higher, implying an increase in bearish sentiment for BTC in the short term.

 

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GWilliamsJr_CMT _jocelynyang_ I managed to make several successful trades on bitfinex

GWilliamsJr_CMT _jocelynyang_

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