Bitcoin Reclaims 63k but Traders Fear Correction Before Deribit Expiry
The post Bitcoin Reclaims 63k but Traders Fear Correction Before Deribit Expiry appeared on BitcoinEthereumNews.com. Bitcoin (BTC) reclaimed the $63,000 mark on Thursday, but traders fear a correction ahead of Friday’s $1.4 billion options expiry on Deribit. The concerns stem from the US government bond yield climbing toward a level that many view as a warning sign. Is the $62,000 support level at risk? Key takeaways: Rising US Treasury yields signal debt concerns, negatively pressuring risk assets. Balanced Bitcoin options put-to-call volumes suggest limited downside from the $62,000 level. US 10-year Treasury yield (left) vs. Bitcoin/USD (right). Source: TradingView Bitcoin ETF outflows are not a concern ahead of the Bitcoin options expiry The 10-year Treasury yield’s approach to 4.6% signals investor anxiety over the expansion of US government debt and prospects for further monetary policy expansion to avert an economic recession. Bitcoin has felt the impact, trading sideways while