Bears aim to pin Bitcoin price below $46K leading into Friday’s $3B BTC optio...
This week's price action shows Bitcoin bulls were a bit overzealous about Friday's $3 billion BTC options expiry. This week's combination of bearish factors was enough to bring Bitcoin (BTC) price down to its lowest levels in 46 days, and this nearly obliterated 86% of the $2 billion September call (buy) options that expire on Sept.24.There's still room for some surprises, especially considering the deadline is 8:00 UTC on Sept. 24. However, the incentives for the bears seem small because the sub-$40,000 test on Sept. 21 caused less than $250 million in futures contracts liquidations.On....
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Last week bulls had a $715 million advantage when Bitcoin price was above $68,000, but the current downturn gives bears a chance to turn the tables. Bitcoin (BTC) bulls were euphoric when the price soared to $69,000 on Nov. 10 because the 14.5% gain accumulated over five days meant they were in for a $715 million profit on Friday’s options expiry.However, the 9% negative price move on Nov. 16 caught bulls by surprise, especially since most of the call (buy) options for Friday have been placed at $66,000 or higher. Curiously, that price level has been the exception rather than the....
ETH bulls will need to keep searching for positive news, especially as bears apply extra pressure ahead of Friday’s $1.1 billion monthly options expiry. Ether (ETH) price tumbled below the $3,000 support on Jan. 21 as regulatory uncertainty continues to weigh down the sector and rumors that the United States Securities and Exchange Commission is reviewing DeFi’s high-yield crypto lending products continue to circulate. On Jan. 27, the Russian Finance Ministry submitted a crypto regulatory framework for review. The proposal suggests that crypto operations are carried out within the....
$357 million in ETH options expire on August 6 and bears don’t stand a chance given that every neutral-to-bearish put is underwater. Ether (ETH) price rallied 50% leading in the London hardfork because many investors expect the upgrade to solve the issue of high transaction fees and make the altcoin a deflationary asset. Pantera Capital CEO Dan Morehead has predicted that the upcoming upgrade would likely cause Ether to 'flip' Bitcoin (BTC) as the leading cryptocurrency but this is a topic under heavy contention. To understand the impact of the recent price movement, traders should analyze....
Bears are currently better positioned for this week’s $510 million BTC options expiry, but their overconfidence could give bulls a chance to flip the table. Bitcoin (BTC) has been trying to break above the $20,500 resistance for the past 35 days, with the latest failed attempt on Oct. 6. Meanwhile, bears have displayed strength on four different occasions after BTC tested levels below $18,500 during that period.Bitcoin/USD price index, 12-hour chart. Source: TradingViewInvestors are still unsure whether $18,200 was really the bottom because the support level weakens each time it is tested.....
Bitcoin price dropped to $60,700 today and bears are keen to pin the price under $62,000 in order to profit from Friday’s options expiry. Bitcoin's (BTC) 90% year-to-date gain was largely fueled by the SEC’s recent exchange-traded fund (ETF) approval and in the first 48-hours of listing, ProShares’ Bitcoin Strategy ETF ($BITO) was able to amass $1.1 billion in assets under management.On Nov. 1 the U.S. Treasury released its stablecoins report, which basically urged Congress to regulate the industry. In short, the working group expects government agencies to require stablecoin issuers to....