Why Bitcoin bears are trying to keep BTC price below $62K for Friday’s option...
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....
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$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....
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....
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....
Bitcoin has lost the $50,000 level but derivatives data lays out a few good reasons why bulls might march on the resistance level ahead of Friday’s $2 billion BTC options expiry. $2 billion worth of Bitcoin (BTC) options will expire on Friday, Aug. 27. Some analysts argue that a strong call (buy) option buying activity on Aug. 22 was likely the catalyst for the recent $50,000 price test.Digital asset trading firm QCP Capital mentioned in its market update that an entity has been "consistently pushing (option) prices higher in the last few weeks." The activity, which took place during the....
Bitcoin’s surge to $69,000 took bears by surprise and cemented bulls expected $400 million profit at Friday’s $1.2 billion options expiry. Every time a new Bitcoin (BTC) all-time high is formed, excessive expectations follow. This time was no different as its price briefly touched $69,000 in the early hours of Nov. 9. Bitcoin 8h, we got our November 9th historical correction, seems to be very minor for now. Naturally I expect at bigger correction after we hit the 84k region, and then into blast off.$BTC #Crypto #Bitcoin pic.twitter.com/cfbBkOIFEK— Miles J Creative (@JohalMiles)....