Subtitle
Bitcoin's drop coincides with an IEA proposal to stabilize energy markets, leaving derivatives traders paying for downside protection. This news may impact the Russian market as well, given the close correlation between oil prices and the ruble exchange rate.
Derivatives traders have already started paying for protection against further decline in the price of Bitcoin. This may indicate that market participants expect the first cryptocurrency to continue to correct.
Conclusion
Despite the recent update of the historical maximum, Bitcoin remains a highly volatile asset, sensitive to the news background. Events in traditional markets, such as the possible release of oil reserves, can have a significant impact on the dynamics of the first cryptocurrency's price. Investors should closely monitor the situation and be prepared for further fluctuations in the Bitcoin exchange rate.