Bitcoin has bravely held $ 6,600 in recent days. This is relatively high given that he stabilized at $ 5,000 two weeks after the big drop. And especially in recent days, he is held at such high values as if artificially. The question is why.
So why does Bitcoin hold up so bravely despite several dump attempts above $ 6,600? Well, as you have surmised from the title of this article, the institutions could have fingers in it. Today, Bitcoin futures contracts on the CME stock market will close. Of course, they will close in a heavy loss, because a month ago Bitcoin was still above $ 10,000.
It is desirable for institutions to close as high as possible. We should therefore prepare for increased volatility. Whether Bitcoin will still pump before closing is questionable. But the probability of falling after that is really high.
So be careful and don’t forget to secure your positions by stoploss!
Core team behind Cryptheory Labs and website Cryptheory.org.
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