Bitcoin sank Wednesday before the US Federal Reserve s interest rate call, and after a mixed launch in Hong Kong of investment products tracking the world s top cryptocurrency and rival ether. However, Hong Kong s first spot bitcoin and ether ETFs, launched on Tuesday, received a lukewarm reception.
Crypto is undergoing a historic bout of volatility, but options traders are seeing positive signs within the market in the wake of theruckusand controversy that overtook digital-assetlendersand others in the sector.
The bear market for Bitcoin has entered its "deepest and darkest" phase, with even long-term holders who had toughed it out until now coming under extreme pressure.