BTC Reclaims $111K, ETH Tops $4K After Last Week’s Sell-Off
The crypto market has dragged itself upward following last week’s sell-off that saw BTC and ETH test major levels of support.
BTC now trades around $111,000 while ether is back above $4,000. There are also slivers of strength in the altcoin market; with LINK rising by 14% and FLOKI notching a 27% gain over the past 24 hours.
Sentiment is improving after last week’s liquidation cascade that temporarily wiped $500 billion off the crypto market. However, BTC and ETH both need to remain above their respective levels of support at $110,000 and $4,000 to avoid continuation of the trend to the downside, which could accelerate as liquidity is low compared to earlier this month.
Derivatives Positioning
- BTC options positioning remains firmly bullish,…
