Bitcoin Hits an Air Pocket--Here's Why There's Turbulence

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 31 December 2021

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Dec30,2021:December has been a brutal month for Bitcoin — with prices plunging around 30% from their all-time high in November. In this special edition of Crypto Unwrapped, Jim Bianco of Bianco Research and Real Vision’s own Weston Nakamura join Ash Bennington to discuss what’s driving price action in these highly volatile markets. The group breaks down key concepts, including year-end options expiry, implied volatility put-to-call ratios, max pain point, and the role of ETF and emerging market FX. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This episode is brought to you by EA Sports with PlayStation 5.
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0:28.6	Visit Peggy Free.
0:59.6	Let me just set the stage here on price action.
1:03.6	On November 10th, Bitcoin hit an all-time high of over 68,500.
1:08.6	That's 50 days ago.
1:10.6	Since then, it's not been pretty.
1:12.6	Bitcoin dropped to under 46,000 on December 4th, I believe.
1:16.6	We saw a max drawdown peak to trough of around 30%.
1:20.6	We've recovered a bit since then and we're trading now at around 47,700.
1:26.6	Here on Thursday, December 30th, about 2 p.m. Eastern time.
1:30.6	Here's what's already been reported.
1:32.6	We've got just shy of 130,000 options contracts.
1:37.6	129,800 to be exact, reaching expiry on 31 December 2021.
1:43.6	That's tomorrow, Friday, New Year's Eve, end of the year.
1:47.6	That represents more than $6 billion in notional exposure to Bitcoin.
	...

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