Bitcoin at $21K: Bull Trap or Ooo Baby We're Back?
The Breakdown
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Crypto Options Trading - Bitcoin Price Action
The front month futures contract, which is set to expire at the end of next week, gapped higher to hit a four-month high of $21,535 showing a premium to spot prices for the first time since November. Many in this digital asset space feel like nothing brings more focus on the digital hard money that is Bitcoin quite like the prospect of an increase in the U.S. government's debt limit. BTC is more correlated to debasement than inflation, so not surprised to see Bitcoin lift with the prospects of more debt. Greg Foss also writes interest costs on federal debt will double this year. Say it with me, debt spiral. Own Bitcoin.
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