Market Wrap: Bitcoin Drops Briefly Below $33.5K While Ether Calls Dominate Options – CoinDesk – CoinDesk

Bitcoin is recovering from a steady price decline while ether options traders anticipate another high-water mark after it hit an all-time high of $1,439.

  • Bitcoin (BTC) trading around $35,023 as of 21:00 UTC (4 p.m. ET). Slipping 4.1% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $33,430-$36,794 (CoinDesk 20)
  • BTC above the 10-hour but way below the 50-hour moving averages on the hourly chart, a sideways signal for market technicians.

Bitcoin trading on Bitstamp since Jan. 16.
Source: TradingView

Bitcoin’s price fell Wednesday, going as low as $33,430 around 15:00 UTC (10 a.m. ET), according to CoinDesk 20 data. It’s been a long and mostly downward direction for the price. The world’s oldest cryptocurrency was at a high of $36,794 just 24 hours ago. It fell over $3,300 before picking up somewhat, at $35,023 as of press time. 

Constantin Kogan, partner at crypto investment firm Wave Financial, has a bearish outlook, anticipating a fall to at least $30,000. “This is where the bulls will begin to actively buy back. If