While Bitcoin prices continued to be unstable, Bitcoin had risen above the $ 50,000 level again on Thursday last week . Bitcoin prices, which have completed the past 5 days with value gains, are preparing to complete the first trading day of the week with depreciation. While Bitcoin (BTC) saw the lowest level of 50 thousand 12 dollars and the highest 51 thousand 280 dollars during the day; As of 15.39 hours, it fell by 0.11 percent to $ 51,103.
Reminding that many Bitcoin options will expire this week due to the end of the month and the year, Huobi Global Research Manager Beste Naz Süllü evaluated, “Bitcoin can rapidly progress to the level of 60 thousand dollars after breaking the 52 thousand dollars level”.
Ethereum prices, the second cryptocurrency with the highest transaction volume, continue their fluctuating course; Today, it saw the lowest level of 4 thousand 35 dollars and the highest 4 thousand 106 dollars. Ethereum (ETH) has risen by 0.40 percent in the following minutes, reaching the level of $ 4 thousand 85.
52 THOUSAND DOLLARS ARE CRITICAL IN BITCOIN
Beste Naz Süllü - Huobi Global Research Manager
While the total size of the crypto money market is approaching $ 2.5 trillion again, Bitcoin, which we watch as the headline, continues its transactions in the range of 51 thousand - 52 thousand dollars. Although the unstable course of Bitcoin, which tested the level of 50 thousand dollars for the first time in about two weeks, came to the fore, there is an increase in the conversion speed of stablecoins whose value is fixed to the dollar in the market, while there is an increase in the purchase contracts in futures. For this reason, continuous funding rates support the price with an increase.
As it is the end of the month and the year, many Bitcoin options will expire this week. Although these options, which usually consist of put contracts below 50 thousand dollars, put pressure on the price in the last week, Bitcoin can quickly move up to 60 thousand dollars after breaking the 52 thousand dollars level. This week, we see a very intense data flow on the calendar. New versions of the game coins in the Metaverse will come and there may be activity in the coins belonging to the sector.