Summary: 117k Bitcoin Options expire this Friday, March 26th The maximum pain point for the expiry is $44k according to the team at Deribit Insights Bitcoin has lost the $55k support zone with $53k the level to watch moving forward A drop to $49k seems likely Bitcoin will undergo a big quarterly expiry of options this Friday, March 26th. According to data from the team at Skew, a total of 117,000 BTC in Bitcoin options expire on this date. The team shared their observation through the following Tweet with an…
Tag: 117K
Crypto traders cautious on Bitcoin price as rally to $11.7K goes sour
After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders began to turn slightly skeptical on the dominant cryptocurrency. Despite the initial breakout above two key resistance levels at $11,300 and $11,500, BTC recorded several rejections. While it might be premature to predict a marketwide correction, the level of uncertainty in the market seems to be rising. In the short term, traders pinpoint the $11,200 to $11,325 range as a critical support area. If that region holds, technical analysts believe a significant price drop is unlikely. But if Bitcoin…
Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume
Bitcoin is trending upward and volume on decentralized exchange Uniswap is soaring to an astounding new high. Bitcoin (BTC) trading around $11,724 as of 20:00 UTC (4 p.m. ET). Gaining 0.61% over the previous 24 hours. Bitcoin’s 24-hour range: $11,575-$11,784 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 29. Read More: Huobi and OKEx Battle for Supremacy in China Bitcoin jumped as high as $11,784 on spot exchanges like Coinbase on Monday. Adding fuel to the fire was…
Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate
Bitcoin gained Wednesday while DeFi interest rate volatility is causing concern over its long-term viability. Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase. “I think we’ll hit $12,000 by Friday. There’s a lot of momentum in the market just now,” said Chris Thomas, head of digital assets for broker Swissquote. “Tuesday was a pause for breath, but we didn’t react negatively.” Thomas noted bitcoin spot volumes have been rising this past week after a month of…