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$2.52B in bearish Bitcoin options signal pro traders are hedging their bets

The open interest on bearish put options has risen to $2.52 billion as traders look for protection against a BTC price drop to the $40,000 to $50,000 range. Bitcoin (BTC) has been trying to break the $60,000 resistance for the past 23 days. Generally, investors don’t seem too worried about this as they consider it a healthy consolidation period, and even recent analysis from JPMorgan Chase estimates that BTC price will reach $130,000.  Even as most investors expect Bitcoin price to rise above $100,000, derivatives data shows $2.52 billion worth of ultra-bearish options from the $40,000 to $50,000 range? At…

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Do $100K–$300K Bitcoin call options signal a bullish BTC price path?

Derivatives exchanges now offer $100,000 to $300,000 Bitcoin call options but how keen are pro traders to take the bait? The open interest on Bitcoin (BTC) Dec. 31 call options between $100,000 and $300,000 reached an impressive 6,700 contracts, which is currently worth $385 million. These derivatives give the buyer the right to acquire Bitcoin for a fixed price, while the seller is obliged to honor it. One might think that this is a great way to leverage a long position, but it comes at a cost and is usually quite high. For this right, the buyer pays an upfront…

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Bitcoin Takes a Serious Dip Following Expiration of Options

Where the heck is bitcoin planning to go in the coming weeks? The number one cryptocurrency by market cap has decided to take a turn for the worse, diving into $55,000 territory after trading for $58,000 or $59,000 for the past several days, and it looks like many analysts are torn on whether the world’s primary digital asset will continue to go south or get back to its winning ways. Bitcoin Has Dug Itself Into a Hole It appears one of the big contributing factors to bitcoin’s price dip is that many bitcoin futures options expired earlier in the week.…

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Over $6B in Bitcoin Options Set to Expire Today, April Contracts Show Bets for $80K per BTC

A number of options traders are betting that bitcoin prices will tap $80,000 by May 2021. Meanwhile, over 100,000 bitcoin options worth more than $6 billion are set to expire on Friday, smashing the previous record expiry seen in January. $6 Billion in Bitcoin Options Set to Drop, April Bets Target $80,000 per Bitcoin Today on March 26, 2021, the crypto ecosystem is about to witness one of the largest options expiries to-date as more than 100k bitcoin options will expire. Today’s $6 billion worth of expiries exceeds the last record back in January when $4 billion worth of bitcoin…

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Bitcoin Bulls Take Control Ahead of $6bn Options Expiry; What to Expect?

Bitcoin retained its intraday bullish bias Friday just ahead of its $6 billion options expiry. In retrospect, options are contracts that give traders the right to purchase or sell an asset at a specified price before a certain expiration date. Data on ByBt.com shows that there is over 100,000 BTC worth of options set to expire on Friday, March 26, across multiple cryptocurrency exchanges. As bears and bulls battle one another to claim their’s preferable strike rate, the bitcoin spot market expects to undergo major price swings. And that is happening already ahead of the London opening bell. Bitcoin… …surged…

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$51K Bitcoin price not a problem as ‘structurally, nothing has changed’

On-chain data points toward a bullish future for Bitcoin despite today’s sell-off to $50,400. On March 25, concerns surrounding the record-breaking $6.1 billion (BTC) options expiry this Friday sparked an overnight sell-off that dropped Bitcoin price to $50,400. The downturn was not a surprise for many traders and some called for a possible test of the $47,000 support level. Despite Bitcoin's loss of bullish momentum, several derivatives indicators, including a bullish futures premium and a neutral skew, suggest that the price may not drop below $50,000. BTC/USDT 4-hour chart. Source: TradingViewWhile technical indicators paint a mixed picture of Bitcoin's short-term price…

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3 reasons why BTC will unlikely trade below $50,000 in the near term

BTC held the $50,000 support while derivatives indicators remained healthy, signaling investors' optimism. Bitcoin (BTC) is showing tenacity above $50,000 on March 25. The 10% drop over the last 24 hours happened despite Tesla allowing customers to buy vehicles using BTC in addition to CEO Elon Musk affirming that it will not be converted to fiat currency. On March 22, the United States Federal Reserve chair, Jerome Powell, stated that Bitcoin was too volatile, "backed by nothing," and more of an asset for speculation. Curiously, on that same day, BTC lost its $56,000 support, which became a resistance. Traders worry that the…

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Bitcoin Plunges Despite Tesla Boost Ahead of Record Options Lapse

An earlier morning boost in the Bitcoin market Wednesday, led by Tesla’s announcement that it would accept the cryptocurrency as payment for its electric vehicles, turned jittery ahead of the US session close, leading to a decline of more than $5,500 and ending the day 3.81 percent lower. Powell Strikes Again The flagship cryptocurrency’s seesaw moves largely surfaced in the wake of Jerome Powell’s testimony before the Senate Banking Committee. The Federal Reserve chairman said that he is not concerned about the recent rise in longer-dated bond yields, adding that their climb reflects investors’ optimism in the US economic recovery…

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Here’s how Bitcoin spot, derivatives will do, following the expiry

Bitcoin Options are holding steady, despite Friday’s expiries that amounted to over $1B. As predicted a week ago, the expiry event was a smokescreen. In fact, the outcome was the opposite of the anticipated crash on the CME, with Open Interest and Volumes remaining consistent.   According to data from Skew, $7B worth of contracts expired […] The post Here’s how Bitcoin spot, derivatives will do, following the expiry appeared first on AMBCrypto.

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Bitcoin Sinks Again as Options Contracts Are Set to Expire

Well, it looks like we may have spoken too soon when it comes to bitcoin. We were all so sure that the $11,000 price it just reached roughly 48 hours ago would stick around this time, but it looks like that’s not the case. Volatility is coming back, and we’re witnessing it today as bitcoin has dropped roughly $600 to $10,400 at press time. Bitcoin Drops into the Low $10K Range This is a rough time for bitcoin considering how up and down it’s been over the past several weeks. The currency has struggled to make any sort of mark…

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47% of existing Bitcoin contracts set to expire this Friday: What will change?

Bitcoin markets have welcomed volatility in the market. The week began with a sharp fall in BTC value from $10,980 to $10,286. This devaluation of Bitcoin followed a solid recovery effort observed in the market that took place during the previous week. As Bitcoin finally broke out of consolidation on 14 September its value was being carried higher and was at $11,183 on 19 September. This was the first time in the month, the value of the largest asset had reached that high, however, it could stand the resistance at this level and eventually collapsed. At the same time as…

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Turbulent Crypto Markets Expected – 87K Worth of Bitcoin Options Set to Expire on Friday

Markets are expected to be volatile this week, as a great number of bitcoin and ethereum options are set to expire this Friday. Data shows more than 87,000 bitcoin options will expire and 77% of the action is held on the Deribit exchange. U.S. stocks dropped hard on Monday, as the Dow Jones Industrial Average dropped more than 700 points during the stock market’s afternoon trading sessions. Meanwhile, bitcoin (BTC) took a hit on spot markets dropping over 4% in value. A number of other cryptocurrencies like ethereum (ETH -8%) lost even bigger percentages on Monday. However, crypto analysts are…

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Brace for impact – Expect something different from the next Bitcoin Options expiry

Bitcoin Options trading volume on the CME has consistently been higher than $7M over the past 3 months. In fact, the figure in question has even gone past $30M on quite a few occasions over the last 30 days. Source: Skew Such consistent trading volume is an indication of steady institutional interest and investment in trading. And because the trade volume has been consistently high since 31 August, the upcoming Options expiry on 25 September may turn out to be a non-event, a damp squib, if such interest continues to sustain itself.  The Put-Call ratio, for instance, was 0.70 for…

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Bitcoin inflows to exchanges up by 117% in 10 days – What’s next?

Bitcoin’s price has dropped by 11% from $11,736 to $10,390 – all in a matter of just 10 days. In fact, some argue that the price may plummet even further with rising liquidity on the horizon. However, there are bigger concerns to take care of, such as the question of how this liquidity will be absorbed. Looking at BTC inflows is a good place to start, with data suggesting that the same has risen by 117% from 1 September up to the time of writing.  Source: Chainalysis Bitcoin inflows were at their peak at $1.3B on 4 September, with the…

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Huobi’s Bitcoin Options offerings leave a mark….. on the CME

The first 10 days of September have been eventful, setting the tone for the rest of the month. Huobi Futures, the crypto-derivatives market of the Huobi Group, rolled out BTC Options trading on 1st September, and within 10 days of the launch, BTC Options Open Interest had soared by 110%. Source: Skew At the same time, CME’s Options volume rose too, climbing by 47.88% from $142M to $210M.  Source: Skew CME’s Bitcoin Options saw an increase in volume due to a drop in Bitcoin’s price. Additionally, the interest in derivatives exchanges was sustained as a drop in Bitcoin’s price pushed…

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Bitcoin options data shows traders anticipate BTC price to fall soon

After a 17% drop in the Bitcoin price within a seven-day span, options market data shows investors are turning cautious. Market data from Skew shows investors in the Bitcoin (BTC) options market are cautiously bearish in the short term as of Sep. 8. The shift in sentiment comes after BTC’s abrupt 17% drop in seven days. The daily chart of Bitcoin. Source: TradingView.com Bitcoin fell below the $10,000 support level for the fourth consecutive day. Some analysts say that the repeated test of the same level is a bearish sign. Others say that BTC is showing resilience at an important…

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Fear not – Traders’ sentiment will ensure Bitcoin is back

Bitcoin’s 2020 rally is stalled, for now. However, throw some liquidity and bullish trading sentiment in the mix and you have a winner. In fact, an in-depth look at Bitcoin Futures’ charts suggests that the cryptocurrency’s price may bounce back soon.  A reason why this may be the case is that Open Interest and daily volume on OKEx, an exchange that enjoys a 33% market share in Bitcoin Futures, are not aligned with the current traders’ sentiment.  Source: Skew In fact, despite a drop below $11,500, Open Interest and BTC Options volume has not dropped considerably. Daily BTC Options volume…

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