The crypto market is on edge as the upcoming Quadruple Witching event, scheduled for tomorrow, March 20th, 2026, is poised to inject significant volatility into Bitcoin and other financial markets. This quarterly event, where stock options, stock index futures, stock index options, and single stock futures all expire simultaneously, historically leads to increased trading volume and potential price swings.
CoinDesk reports that Bitcoin has shown muted performance on Quadruple Witching days in the past, often followed by weakness in the subsequent days and weeks. This suggests that while the event itself might not cause immediate panic, the aftermath could be challenging for investors.
Adding to the cautious sentiment, Bitcoin prediction markets are now signaling a 70% chance of BTC price crashing to $55,000 in 2026. This projection follows a notable decline in optimism since the October crash, indicating growing concerns about an extended downturn.
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In other crypto news, Magic Eden, a prominent NFT marketplace, is winding down its EVM and Bitcoin NFT markets. The platform is strategically shifting its focus and resources towards its gambling platform, Dicey. Following a successful closed beta that saw around 200 users wager $15 million in two months, this pivot highlights a growing trend of platforms exploring revenue streams beyond traditional digital collectibles.
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