Here’s why bears hope to pin Bitcoin under $60K ahead of Friday’s $1.1B optio...
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....
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Changpeng “CZ” Zhao has thrust a fast-escalating on-chain mystery into the center of Bitcoin’s news cycle, amplifying an investigation that alleges a single Hyperliquid trader—long rumored to control more than 100,000 Bitcoin—both catalyzed and profited from last Friday’s violent deleveraging. “Not sure of validity. Hope someone can cross check,” CZ wrote on X as he […]
Although things may seem objectively bad right now, there is reason for hope.
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....
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....
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.....