Bitcoin Falls as Investors Take Profit

CoinDesk 20 Index: 2,004 −3.5%

Bitcoin (BTC): $62,471 −2.4%

Ether (ETH): $2,632 −4.1%

S&P 500: 5,616.84 −0.3%

Gold: $2,547 +1.2%

Nikkei 225: 38,288.62 +0.47%

Bitcoin has fallen below $63,000 as investors took profits following the crypto market’s weekend rally. BTC is down over 2.4% in the past 24 hours to trade just below $62,500, while the broader market is down 2.15%. QCP Capital reported an increase in spread buying, noting that bitcoin options were being sold at the $100,000 level. “BTC and ETH volumes are more skewed than they were until October,” it said. “This is quite surprising given the bullish trend. It probably shows that the market is well positioned for this move and is quickly taking profits from the trades.”

Telegram CEO Pavel Durov could be free as of Wednesday, French prosecutors said, adding that Durov has not yet been formally charged. The CEO is being held as a result of alleged crimes planned at Telegram, including money laundering, drug trafficking, child pornography and failing to cooperate with law enforcement. Polymarket bookmakers believe he has a 72% chance of being released before October.

The administrator of bankrupt crypto lender Celsius has announced that more than $2.53 billion in assets have been distributed to approximately 251,000 creditors. The payouts cover approximately two-thirds of the crypto lender’s total creditors by number and approximately 93% of the value. “Of the remaining creditors, approximately 64,000 have less than $100, and approximately 41,000 have between $100 and $1,000,” the filing reads.

The charts show BTC’s monthly returns since 2013. September is typically seen as bitcoin’s worst month, with an average return of -4.78%. This could be a grim outlook for BTC bulls, as bitcoin fell to a near six-month low of $54,000. Source: Coinglass