Af ZyCrypto - 2 år siden - Læsetid: 2 minutter
Bitcoin Risks Crashing Below $50,000 As $3 Billion BTC Options Expire On Black Friday
Bitcoin may be a hot topic for discussion on dinner tables today at Thanksgiving but not for the very best reasons – the crypto is down from a high of $59,258 to the current rate of $54,738. A total of $3.2 billion worth of Bitcoin options are set to expire today being Black Friday, and this has sparked an increased bearish momentum and volatility.
The volatility and the bearish trend were expected as the majority of the buys were put options. With a highly positive put-call skew, the trend was favoring a bearish trend before contract expiry. Those holding put options were expected to sell in order to get the profits from their options before the 73,702 contracts expired, which definitely puts more selling pressure on the Bitcoin pris. Det udløb af BTC-optioner har historisk set altid bragt volatilitet.
De fleste af disse månedlige optioner – eller i alt 2.6 milliarder dollars, blev afviklet på det største derivatmarked Deribit.
Bjørnene var nødt til at sænke prisen til under $57,000 i denne losseplads, ellers ville de have tabt en enorm mængde penge, hvilket de gjorde. På trods af at tyrene kæmpede med prisen til en meningsfuld $59,000 torsdag aften for at redde fra store tab frem mod kontraktens udløb, gik prisen til så lavt som $57,500 fredag morgen og længere ned.
BTCUSD-diagram Af TradingViewDet forventes dog det Bitcoin price will resume recovery after today following the contract expiry. However, the psychological level to beat for the bulls remains $60,000.
Faldet falder også sammen med optagelsen fra PlanB – en populær fortaler for Stock-To-Flow BTC-prismodellen, der forudsagde $100,000 ved udgangen af dette år. Han oplyste, at BTC-prisen vil sandsynligvis ikke nå $98,000 i slutningen af november som tidligere forudsagt. Men ifølge ham er modellen stadig upåvirket, og prisen kan stadig nå $100,000 ved årets udgang.
It also comes in the wake of tapering volumes. In fact, retail interest for Bitcoin as witnessed in the Google searches, for instance, has fallen to levels they were back in 2017.
Oprindelig kilde: ZyCrypto