Bitcoin Entered Recovery Mode – BTC Recovers From A Volatile Shakeout

In the past days Bitcoin suffered another sellout and the weak hand seem to be shaken off the market for good now.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $34,092.07.

Coindesk reveals that as June comes to a close, roughly 69,000 BTC is set to expire at a notional value of $2.37 billion, according to data source Genesis Volatility.

“Max pain levels are good to keep an eye on going into an options expiration like this,” wrote Greg Magadini, CEO of Genesis Volatility, in an email to CoinDesk.

The max pain level for BTC implies a rally up to about $40,000, which is also the strike price with the most open interest, according to the same online publication.

Check out the complete article in order to learn more details.

Bitcoin adoption explodes

The adoption of Bitcoin and digital assets has been exploding lately and the trend continues.

You are probably aware of the fact that El Salvador is the star of the crypto space for a while now since they decided to make BTC a legal tender in the country.

Now, it’s been revealed that there’s a national address to El Salvador’s citizens saw a first today: a president conducting a tutorial on how to use a Bitcoin wallet.

The Salvadoran government is working on a wallet application for the country to support the addition of Bitcoin as legal tender.

The wallet is called Chivo and it will allow its users to send and receive BTC, as well as convert BTC to U.S. dollars.

“The use of bitcoin will be optional, nobody will receive bitcoin if they don’t want it […] If someone receives a payment in bitcoin, they can choose to automatically receive it in dollars,” Bukele said in his address.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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