First Mover Americas: Bitcoin Hovers Around $59K to End Week

BTC has gained about 2% in the last 24 hours as it continues its recovery from a midweek rout that saw it sink below $57,000 following a drop of 16% in April, the worst month since June 2022. JPMorgan said in a report yesterday that retail investors played a bigger part in the sell-off than institutional investors. The bank is opting for a cautious stance on crypto markets in the near term due to a lack of positive catalysts. The wider crypto market has risen 1.

High volume in bitcoin calls at $90,000 and $100,000 strikes expiring in September suggests market participations maintain a bullish outlook on the cryptocurrency. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price at a later date. A call buyer is implicitly bullish on the market.Jack Dorsey's Block Adding More Bitcoin to Balance Sheet, Presents Road Map for Othersin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

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