Bitcoin is currently valued at 117,262 USD, having dropped 4% recently. Despite this decline, derivatives markets reflect neutral sentiment among traders, without signs of panic.
The expiry of futures contracts wiped out approximately 390 million USD, equating to 14% of open interest. The premium in futures suggests stable sentiment within the market.
Stablecoin demand in China remains stable despite Bitcoin’s price fluctuations. Traders are now monitoring potential global trade tensions and a possible recession, which may impact Bitcoin’s market dynamics.
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