Bitcoin and its smaller rivals are struggling for traction, after the largest cryptocurrency surged to a record high last week.
The recent surge in Bitcoin's price is losing momentum as the market anticipates the expiration of a large volume of Bitcoin and Ethereum derivatives contracts on Friday. This event, one of the largest in the history of digital assets, carries the risk of market volatility due to the unwinding of these positions.
Essentially, investors are holding their breath to see how the market reacts to this major event, which could potentially trigger significant price swings in both Bitcoin and Ethereum.
The recent surge in Bitcoin's price is losing momentum as the market anticipates the expiration of a large volume of Bitcoin and Ethereum derivatives contracts on Friday. This event, one of the largest in the history of digital assets, carries the risk of market volatility due to the unwinding of these positions. Essentially, investors are holding their breath to see how the market reacts to this major event, which could potentially trigger significant price swings in both Bitcoin and Ethereum.
