Bitcoin (BTC) tanked on Wednesday, hitting multi-month lows near $46,000. Renewed fears of an early rate hike by the Federal Reserve, the recent dour mood in financial markets and Tesla’s decision to suspend bitcoin payments have all been blamed for the price slide.
But the downward move was likely aggravated by options market makers selling the cryptocurrency in the spot/futures market to hedge their books (offset bullish exposure), according to Fredrick Collins, a seasoned options…
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