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Bitcoin briefly reached $38,000 on Nov. 24 but faced formidable resistance at the price level. On Nov. 27, Bitcoin price traded below $37,000, which is unchanged from a week ago.
Ethereum whales are market makers are no longer charging excessive premiums for protective put options, a sign that ETH price could be en-route to new highs.
Reasons for bearishness include U.S. Federal Reserve tightening, the absence of leverage buyers' demand, and fearful BTC option traders.
Marcel Pechman
Marcel is a crypto analyst with 17 years experience as an equities sales trader for UBS, Deutsche Bank, Pactual & Banco Safra. Brazilian. Marcel holds a post-graduate certificate in Engineering and a bachelor’s degree in Business Administration.