TODAY $10 billion in crypto options expire on Deribit. Out of those, $8.3 billion corresponds to $BTC — the largest expiry of the month. The max pain is at $73,000, but 85% of the contracts open with a chance of expiring above $77,000. The put-call ratio of 0.63 indicates a net bullish bias among traders. Bitcoin remains the only asset in the top 10 that is up weekly with +4%.
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💣 BOMBSHELL DATA:
$BTC hit $79,388 yesterday — the highest since January — before retreating as WTI oil climbed to $95. The Pentagon warned that clearing the mines in Ormuz could take 6 months, keeping inflation sticky and limiting the Fed's margin to cut rates. But USDT hit an all-time high market cap of $188.88 billion — the largest liquidity waiting on the sidelines of the crypto market in history. After today's options expiry, that capital could flow in. The supply vacuum between $78,000 and $83,000 has no sellers.