Bitcoin Today – January 2021

Bitcoin News Headline Summary

There is growing angst among investors over financial market price bubbles, and top of the list of concerns were the cryptocurrency bitcoin and U.S. tech stocks, two closely followed surveys showed on Tuesday. [4]

Unless bitcoin is able to “break out” above $40,000 soon, trend-following investors could begin to cash out, JPMorgan analysts wrote in a note first reported by Bloomberg. [5]

More so, BTC/USD may likely see the resistance levels of $42,000, $44,000, and $46,000 respectively. [4]

The bullish daily candle forming today on the daily chart indicates that the bulls may be fully in control in the nearest term. [4]

The joint destiny of bitcoin and ether is going to part company over the next few months because while bitcoin is gold, Ethereum is a platform, the core brand and engineering for “decentralized apps”—a giant technological wave about to sweep the globe. [1]

Blockchain technology coupled with cryptography is an engine of invention capable of spawning game-changing innovation after game-changing innovation. [2]

Even if BTC regains its high and plateaus at say $60,000, something I find very unlikely, the upside is in DeFi where there will be a carnival of incredible opportunities to make multiples on your investments. [1]

Both the open interest in bitcoin futures and options has increased significantly. [3]

At the time of publication, both bitcoin futures and options open interest has been rising significantly. […] Alongside the desire for crypto futures, bitcoin options have increased substantially during the first month of 2021. [2]

Cryptocurrencies are now a trading asset, not an investment and will remain that way for a long time. [1]

A Bank of America (BofA) survey showed that buying bitcoin had replaced buying tech stocks as the trade which fund managers saw as most crowded, knocking tech off the top spot for the first time since October 2019 and into second place. [4]

A record $ 3.7 billion worth of Bitcoin options will expire on January 29, as speculation mounts following recent volatility in the price of the cryptocurrency and the growth of interest in its derivatives. [1]

Bitcoin options open interest has reached $ 9.6 billion according to derivatives market data, as the metric approaches the maximum captured on January 7, 2021.  [3]

The crypto exchange Deribit commands the lion’s share of BTC options with 84.37% ($8.1B) of open interest. [2]

Grayscale’s Bitcoin Trust (GBTC) made headlines again yesterday with its record one-day addition of 16,244 bitcoin, adding to its stack of over 630,000 bitcoin and an assets under management (AUM) totaling about $23 billion. [3]