Market Wrap: Bitcoin Rises Above $38K Ahead of Seasonally Strong February

Posted on by American Coins & Gold

Market Wrap: Bitcoin Rises Above K Ahead of Seasonally Strong February
Bitcoin (BTC) returned above $38,000 on Monday as bearish sentiment faded. The cryptocurrency was up 2% over the past 24 hours, versus a 4% rise in ether (ETH) over the same period. Metaverse tokens MANA and SAND were up 17% and 9%, respectively, on Monday.It appears selling pressure is starting to wane after a rough start to the year. In the bitcoin options market, the put-call open interest ratio, which measures the number of open positions in put options relative to those in calls, rose to a six-month high of 0.62 on Sunday. A higher put-call ratio is typically viewed…