Block trade on an exchange: BTC iron butterfly spread, size 150 contracts, notional value $11.3428 million
Let's lay out both sides:
Bullish case: The news provides a new narrative, which could attract more attention;
Bearish case: Confidence may be shaken, and short-term capital may pull back;
My take: Both sides have a point. Ultimately, it depends on which side $BTC 's volume and price action favor.
$BTC is currently at 75,720, down 5.85% over 24h, with a 24h range of 75,208.42–80,794.01.
Let's lay out both sides:
Bullish case: The news provides a new narrative, which could attract more attention;
Bearish case: Confidence may be shaken, and short-term capital may pull back;
My take: Both sides have a point. Ultimately, it depends on which side $BTC 's volume and price action favor.
$BTC is currently at 75,720, down 5.85% over 24h, with a 24h range of 75,208.42–80,794.01.