Volatility stays high
News that the BITO ETF is pushing towards position limits in CME bitcoin futures contracts is a concern for the crypto market. We may also seeing more profit taking with bitcoin down 4% today.
A quick $1200 move lower in the past few minutes comes on a break of session lows. The short term chart shows a minor double top near $66,500. The measured target on that takes it close to $61,500