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Bitcoin price is currentlytrading near a six week low. Post the US NFP data release for July, the asset sustained above the 29,000 level, showing likelihood of price recovery in August.
Bitcoin price is at a six-week low as BTC options contracts worth $530 million are set to expire on Friday. The maximum pain point or the price at which the contracts would incur the highest financial losses is $29,500. The notional value of the Bitcoin options contracts set to expire on August 4 is considerably lower than last week’s $2.09 billion.
The contagion from the Curve Finance exploit is spreading throughout the DeFi ecosystem. JP Morgan’s team of analysts led by Nikolaos Panigirtzoglou penned a report on the state of DeFi and said that the ecosystem is in a shrinking or stalling mode.
Arbitrum developers, Offchain Labs, rolled out a new dispute protocol for the Ethereum Layer 2 scaling solution. Previous releases by the developer have fueled a recovery in ARB price.
Bitcoin price is currentlytrading near a six week low. Post the US NFP data release for July, the asset sustained above the 29,000 level, showing likelihood of price recovery in August.
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Cryptocurrencies Price Prediction: Binance, Ethereum & Bitcoin – American Wrap 04 August – FXStreet
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