(8/14, Sun) btc failed to break $25k while eth broke $2000

Yesterday(8/13 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $24396, its lowest as $24276, its highest as $24898, its closing as $24348. Bitcoin started rising after the start on Saturday, reaching a high at 06:15 and then making corrections, reaching a low at 11:30 and then rising and falling, ending weak flat.

Looking at the 4hr chart, it was close to the previous high and then adjusted again, considering the rsi showed a downward divergence pattern, it is likely to test the support level near the $24k. On the daily chart, Bitcoin, which failed to break through $25k, fell back to near the opening price, and in order for the uptrend to continue, it will have to break through $25k within today.

There is news in the crypto industry, CoinDesk, a media specialized in cryptocurrency, reported that "More and more institutional investors are using option trading to hedge crypto investing risks in a bear market." In addition, the crypto exchange Deribit also revealed that the demand for ETH options is soaring ahead of the Ethereum merge. This is the reason why the price fluctuates significantly on the option expiry date like the same in the stock market.