Bitcoin is down 40% from its November peak, and traders are looking for the golden opportunity
Bitcoin continues to decrease on Monday, briefly dropping below $40,000 as it continues to track losses in global entities.
The 10-year Treasury yield rose to a new three-year high on Monday at 2.78%, which reduces the present values of currently priced stocks.
Gold, the ultimate haven, traded higher on Monday during the volatile events in the stock market. The Chicago Board Options Exchange’s (CBOE) volatility Index (VIX), a measure of the current stock market’s volatility expectations has rose above 20, which experts said similar to what occurred in early February. That indicates the current state of investors’ uncertainty in stock markets.
In the global crypto world, alternative cryptocurrencies have underperformed bitcoin on Monday. Ether was down 8% over the past 24 hours and a 6% decline in BTC over the same period.
Bitcoin dropping below the $43,000 benchmark has caused large liquidation over the weekend.
Liquidation occurs when an exchange forcefully closes a leverage position as a safety mechanism due to a partial or total loss of the trader’s margin. Traders who enter the market with leverage should always be aware of their holdings during high volatile times.
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