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$BTC EXPIRATION OF CONTRACTS OF $13.3B: BITCOIN UNDER PRESSURE NEAR $80K
Bitcoin (BTC) is facing the expiration of options contracts this Friday (with a total value of $13.3 billion) after having fallen and recovered. This key financial event focuses the market on two levels:
* The Maximum Pain Price ($102,000): This figure is the level at which large sellers of contracts (who are the ones that usually influence the price) would lose the least amount of money. Its distance from the current price ($87,000) shows how strong the drop was and how "displaced" the market is.
* The Main Bearish Barrier ($80,000): The largest amount of bets to protect against a drop (puts) are concentrated at the $80,000 level. This means that if the price falls to that level, there would be significant selling pressure.
Currently, only 26% of the bets are worth something, underlining that most traders did not expect the current drop. With this large number of contracts nearing expiration, and with fear dominating the market, Bitcoin could remain very unstable until Friday.
Considering that there is a lot of bearish pressure concentrated at $80,000 and the reference price for sellers is $102,000,
do they think the market will try to push the price towards either of these two levels before Friday?
{spot}(BTCUSDT)
Bitcoin (BTC) is facing the expiration of options contracts this Friday (with a total value of $13.3 billion) after having fallen and recovered. This key financial event focuses the market on two levels:
* The Maximum Pain Price ($102,000): This figure is the level at which large sellers of contracts (who are the ones that usually influence the price) would lose the least amount of money. Its distance from the current price ($87,000) shows how strong the drop was and how "displaced" the market is.
* The Main Bearish Barrier ($80,000): The largest amount of bets to protect against a drop (puts) are concentrated at the $80,000 level. This means that if the price falls to that level, there would be significant selling pressure.
Currently, only 26% of the bets are worth something, underlining that most traders did not expect the current drop. With this large number of contracts nearing expiration, and with fear dominating the market, Bitcoin could remain very unstable until Friday.
Considering that there is a lot of bearish pressure concentrated at $80,000 and the reference price for sellers is $102,000,
do they think the market will try to push the price towards either of these two levels before Friday?
{spot}(BTCUSDT)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.