Crypto Weekly: 3/25/2021
Mar 25, 2021
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Bitcoin has rebounded to new highs and pulled back again since our last market update on Bitcoin two weeks ago. We may sound like a broken record, but we remain bullish on Bitcoin and crypto and see further upside during the balance of the year.
A few reasons we see for the recent pull back:
-Traders repositioning ahead of $6B largest ever Bitcoin options expiration tomorrow
-Traditional institutions new to crypto may be selling to locking in quarter end returns
-Retail tax selling pressure to cover big gains from 2020 with April 15 around the corner
-GBTC NAV premium arbitrage traders selling BTC ...