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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 hargaan. The kadaluwarsa pilihan BTC geus sajarahna salawasna dibawa volatility.
Kalolobaan pilihan bulanan ieu - atawa jumlahna $ 2.6 milyar, anu netep di pasar turunan pangbadagna Deribit.
The biruang diperlukeun pikeun nurunkeun harga handap $ 57,000 di dump ieu atawa maranéhna bakal leungit jumlah badag duit, nu maranéhna ngalakukeun. Sanajan bulls battling harga ka bermakna $ 59,000 on Kemis wengi pikeun nyalametkeun tina karugian hefty nuju béakna kontrak, harga indit ka jadi low salaku $ 57,500 ku Jumaah isuk sarta salajengna handap.
BTCUSD Bagan Ku TradingViewIt is expected, however, that Bitcoin price will resume recovery after today following the contract expiry. However, the psychological level to beat for the bulls remains $60,000.
The tumbling ogé coincides jeung pangakuan ku PlanB - proponent populér model harga Stock-To-Flow BTC nu diprediksi $100,000 di ahir taun ieu. Anjeunna nyatakeun yén harga BTC dipikaresep moal pencét $98,000 ku tungtung Nopémber sakumaha saméméhna diprediksi. Nanging, numutkeun anjeunna, modélna masih henteu kapangaruhan sareng hargana masih tiasa ngahontal tanda $ 100,000 dina ahir taun.
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.
sumber aslina: ZyCrypto