Bitcoin Traders See 53% Odds of Drop Below $66K

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Bitcoin price slumped on Friday as uncertainty over the US economy and war in Iran negatively impacted stock and crypto markets.

Bearish sentiment is rising as Bitcoin options professional traders lose confidence that the $66,000 level will hold for long.

The exit of David Sacks as the Crypto and AI czar and a lack of a clear US Strategic Bitcoin Reserve plan added to investors’ doubts.

Bitcoin fell to $65,530 on Friday, an 8% decline from the $71,300 level seen on Thursday. This move wiped out over $210 million in leveraged bullish Bitcoin futures and left most call (buy) options worthless during the $18.6 billion monthly expiry. Traders now anticipate a 53% chance that Bitcoin will stay below $66,000 by April 24.


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