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Bitcoin derivatives traders target $40K BTC price now that Binance is resolved

Published 11/22/2023, 02:44 PM
Updated 11/23/2023, 02:00 AM
© Reuters
BTC/USD
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The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) traded near $37,000 on Nov. 22 — essentially flat from three days prior.

Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States government for violating laws involving money laundering and terror financing.

Bitcoin 3-month futures premium. Source: Laevitas
Bitcoin options 25% delta skew. Source: Laevitas

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