The Bitcoin options market is beginning to show signs of a possible end to the downward price trend, as "skews" climb back to zero.
October 31, 2022 | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $20,390 | Bitcoin price has ranged between $20,000 and $21,000 over the weekend, beginning the week around $20,400 on the Bitcoin whitepaper's 14th birthday. | Top-20 altcoins once again have had mixed performance as Ethereum falls 1%, BNB rises 5% and Dogecoin has yet another high-volatility day with a 13% gain. | Top Stories for October 31, 2022 🔥 | | The Bitcoin options market is beginning to show signs of a possible end to the downward price trend, as "skews" climb back to zero. | Skew is a measure of the spread between the implied volatility of call options (positive sentiment) and put options (negative sentiment) – with an increase in the skew indicating a shift in preference to call options. | It is the first time that skew has come out negative numbers since March of this year. | | UK-listed Bitcoin mining company, Argo Blockchain, risks shutting down as it faces possible negative cash flow in the short-term. | A subscription deal worth $27 million has fallen through for the company, which was supposed to accompany a $5.6 million inventory sale for the already-troubled firm. | Argo's story is currently a common theme in the Bitcoin mining industry, as times get tough for the sector. Another miner, Core Scientific, saw a 75% crash as bankruptcy talks surfaced. | | The Reserve Bank of India (RBI) will launch a pilot for its digital rupee – testing the waters for the country's central bank digital currency (CBDC). | The pilot program will involve nine banks operating in the country, including the State Bank of India, Bank of Baroda, Union Bank of India and others. |
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