Bitcoin enters a new volatile range as markets continue to struggle

As the encryption market continued in the struggle, Bitcoin (BTC) stormed a new volatile group. On March 10, the cryptocurrency fell to less than $ 80,000 and touched the range of $ 76,800 before climbing up to $ 81,000 at the time of writing this report.

According to the latest version of the BitFinex Alpha report, the Cryptocurrency decrease to $ 76,800 led to huge losses in the market, as investors recorded more than $ 950 million in qualifiers for both short and long positions.

Bitcoin in a new volatile group

BitFinex said its analysts expected a temporary move towards its lowest level near 90,000 dollars after BTC decreased for a short period of less than $ 80,000 in February. The expectations were made earlier last week, with the leading cryptocurrency recovery before the merging between 85,000 dollars and $ 92,000 on the weekend.

However, bitcoin fluctuations increased with the approach of the coding in the White House. “This was fed by speculation about the creation of the United States Strategy Explorer. By the way, at the time, President Donald Trump has signed an executive thing that creates the Bitcoin Reserve and the inventory of digital assets.

When the news appeared on March 7, encryption prices increased across the market. However, the gains were quickly cleared as investors understood that it will not lead to any new instant purchase of BTC or other cryptocurrencies. This, in addition to one of the largest bitcoin and ethereum options event on the same day (up to $ 3 billion), has raised more fluctuations in the short term, leaving investors losses.

Market stability on the horizon?

Regardless of the negative procedure for Bitcoin, the leading cryptocurrency was stable for Altcoins. But market morale around the currency is still cautious, liquidity conditions and total economic certainty play major roles in the next step of the assets.

The report stated: “The severe price in the past two weeks has created turbulent market conditions and has pushed an increase in the fluctuations of bitcoin, especially through short time frames.”

On the other hand, the Bitcoin Options Market has reached some of the highest levels of fluctuations achieved in this course, exceeding 80 % for the time frame for one week and twice. This level of the realized losses shows that many traders and short -term holders have been forced to get out of their positions without cost. This means that they sold their origins with a loss.

However, Bitfinex said that these comprehensive surrender events often precede a stage of market stability because strong hands begin to accumulate while leaving weak hands to the market.