Bitcoin bears have plenty of reasons to hold BTC price below $32,000 By Cointelegraph

Bitcoin beats owning COIN stock by 20% since Coinbase IPO
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Bitcoin bears have plenty of reasons to hold BTC price below $32,000

Since May 10, the (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions.

BTC-USD 12-hour price at Coinbase (NASDAQ:). Source: TradingView

The choppy trading partially reflects the uncertainty of the stock market as the S&P 500 Index ranged from 3,900 to 4,180 in the same period. On one side, there has been economic growth in the Eurozone where the gross domestic product grew 5.1% year over year. On the other, inflation continues to soar, reaching 9% in the United Kingdom.

Bitcoin 3-month futures annualized premium. Source: Laevitas
Bitcoin 30-day options 25% delta skew: Source: Laevitas