Binance Trading

[Binance OTC Weekly]

BTC has been in a downward trend since April, and the break of the strong support level of $60k opens the door to further losses. The current support level is $56k/57k, while the lower support level is $51k/52k.

The bearish sentiment was also observed in the options market. Both BTC and ETH options have an extremely negative skew in the short and intermediate tenors. Fed Chairman Powell stated that no rate hikes were considered, but he did not provide any information on the rate cut schedule.

Our desk believes that bearish sentiment will persist in the market in the coming weeks. Investors should protect the downside risks of their portfolios .

For more information, please see our OTC Weekly Trading Insights.
https://www.binance.com/en/square/post/7545116570409

Do get in touch with the trading team here for any RFQs, have a great week ahead!

Binance Square

OTC Weekly Trading Insights (05/02/2024) 

Wormhole ($W) is the native token of the Wormhole platform, a multi-chain protocol that enables the transfer of assets and data between blockchains. Wormhole ($W)'s price increased by 19.9% last week

www.tgoop.com/BinanceOTC/805

1.4K viewsMay 3 at 05:30

[Binance OTC Weekly]

BTC has been in a downward trend since April, and the break of the strong support level of $60k opens the door to further losses. The current support level is $56k/57k, while the lower support level is $51k/52k.

The bearish sentiment was also observed in the options market. Both BTC and ETH options have an extremely negative skew in the short and intermediate tenors. Fed Chairman Powell stated that no rate hikes were considered, but he did not provide any information on the rate cut schedule.

Our desk believes that bearish sentiment will persist in the market in the coming weeks. Investors should protect the downside risks of their portfolios .

For more information, please see our OTC Weekly Trading Insights.
https://www.binance.com/en/square/post/7545116570409

Do get in touch with the trading team here for any RFQs, have a great week ahead!

BY Binance Trading