Bitcoin options still bullish despite this week’s $900 BTC price drop
Retail traders were rattled by Bitcoin’s $900 drop but BTC options data remains bullish ahead of Friday’s expiry. The $900 Bitcoin (BTC) price drop over the past two days might have been scary for novice traders, but those trading futures and options don't seem bothered. Cryptocurrency daily market performance snapshot. Source: Coin360As Bitcoin price rallied to $11,000 on Sept. 19, investors may have become overly excited as the price briefly broke an important resistance level. The steady rally lasted ten days and saw Bitcoin’s dominance rate rebound for a 15-month low and this had some....
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Data show pro traders are still bullish even as Bitcoin price dips below $30,000 and Friday’s $4 billion BTC options expiry approaches. In the last 24-hours Bitcoin (BTC) price dropped 10% today to test the $30,000 support. This drop below what traders have described as a ‘key’ support occurred just two days ahead of this month’s futures and options expiry. Despite the record-high $4 billion options expiry being just two days away, both bull and bear sides traded similar sizes today.Unlike futures contracts, options are divided into two segments. Call (buy) options allow the buyer to....
BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry. Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality a $4,050 price difference is relatively insignificant, especially when one accounts for Bitcoin's 72% annualized volatility.Currently, the S&P 500’s volatility stands at 31%, which is significantly lower, yet the index traded down 9.1% between June 8 and June 13. So, comparatively....
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’s price is turning bullish as ether options traders accumulate half a million of ETH options for December expiration.
$1.55 billion in Bitcoin options are set to expire on April 23 and the recent BTC crash to $51,000 has given bears a $340 million advantage. Bitcoin (BTC) price is making a slow recovery after facing a sharp 16% correction in the early hours of April 18.While some analysts blame a 9,000 BTC deposit at Binance, others focused on the hashrate drop caused by a coal mining accident in China. Regardless of the reason behind the $51,200 low, options market makers were forced to adjust their exposure.Typically, arbitrage desks seek non-directional exposure, meaning they are not directly betting....