---
title: "Here’s what the latest Bitcoin price correction reveals"
url: https://diffcoin.com/heres-what-the-latest-bitcoin-price-correction-reveals/
description: "In the latest episode of Cointelegraph’s The Market Report, analyst Marcel Pechman delves into Bitcoin’s recent drop to $26,000. Derivatives market…"
published: 2023-08-23
updated: 2023-08-23
author: "Mila"
site: "Diffcoin"
---

# Here’s what the latest Bitcoin price correction reveals

In the latest episode of Cointelegraph’s *The Market Report,* analyst Marcel Pechman delves into Bitcoin’s recent drop to $26,000. Derivatives market analysis shows Bitcoin (BTC) options and futures metrics lack signs of professional traders going bearish, and while that doesn’t guarantee a quick return to $29,000 support, it reduces the chances of an extended correction.

Pechman presents a Kaiko data chart on BTC liquidity and volatility, which significantly decreased since the FTX collapse in November 2022. And with no liquidity issues or heightened volatility indicated, did the 11.4% mid-August price drop worsen conditions due to the largest futures liquidations since November 2022?

Bitcoin futures premium settled at a neutral 6% after the recent $26,000 crash, signaling balanced demand between leveraged longs and shorts. This aligns with a neutral -7% to 7% BTC options skew, suggesting reasonable downside protection prices.

Reviewing another article, Pechman discusses macroeconomic analyst Lyn Alden’s take on a common currency proposal among BRICS nations (Brazil, Russia, India, China and South Africa). Alden doesn’t see it succeeding — a view shared by Pechman. However, Alden notes a weakened United States dollar if BRICS use their own currencies for foreign trade, giving unconventional advice to crypto investors.

Listen to the full episode of *The Market Report* on the new Cointelegraph Markets & Research YouTube channel, and don’t forget to click “Like” and “Subscribe” to keep up-to-date with all our latest content.

[Source link](https://cointelegraph.com/news/latest-bitcoin-price-correction-reveals)