Currency Economy

Crypto derivatives market down but not out as $3B expiry sours the mood

Cryptocurrency4 minutes ago (May 28, 2021 10:20AM ET)Crypto derivatives market down but not out as $3B expiry sours the mood

Crypto derivatives market down but not out as $3B expiry sours the mood

Bitcoin (BTC) led the entire cryptocurrency market through a tumultuous period after the majority of the cryptoverse was painted red on May 19, a day now also referred to as “Black Wednesday.”

BTC’s price fell below $40,000 for the first time since it blew past the resistance level on Feb. 9 on the back of the news of Tesla (NASDAQ:TSLA) purchasing $1.5 billion worth of BTC while also announcing that it would begin accepting Bitcoin as a payment method.

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