Giant Options Closed! – Cryptokoin.com

The crypto market has been lacking in volatility lately. Over the past two weeks, Bitcoin price has mostly hovered around $19,000. After recording just 0.4 percent daily gains, the top coin was currently trading at $19,200.

Bitcoin options expire

In one day, nearly $538 million worth of Bitcoin will expire. Currently, most traders are in a downtrend as sales dwarf calls. The open interest (OI) call to expire on Thursday, October 21 is currently stuck at 12,272.4 BTC. Put options amounted to 15,728.8 BTC. As a result, the buy/sell ratio remained at 0.78 and below 1. As shown below, most bearish bets were placed at the 19,000 and lower price levels. Call options were made upwards.

What does this mean?

Bitcoin has been trading below all major daily averages since the beginning of this month. Large, small and medium-sized investors continue to increase their HODLing. However, the price remains stagnant. According to experts, metrics like the RSI are currently neutral. This points to sluggish demand. Therefore, if no purchases occur during the night, the price can be expected to remain stable around $19k.

Therefore, according to analysts, if Bitcoin trades below $19,000, it will be quite difficult for traders who bought the put option to resist using the option to sell their own money. If that happens, there will be traders in the driver’s seat with a bearish trend. According to experts, in such a case, the price of the asset could drop to $18.5k in the short term. On the upside, however, the path to $21,000 looks challenging given the middle hurdles and the current market situation.

BTC drops below $19,000

At this stage, it’s worth noting that Bitcoin’s spot market dominance has been on the rise lately. A recent tweet from CryptoQuant CEO Ki Young Ju highlighted that BTC spot trading volume for all exchanges has increased 20x over the past six months. Options, on the other hand, have not seen a big slop. Therefore, it is possible that there will be no change in price.

BTC, the largest cryptocurrency by market cap, is changing hands at $18,979 at the time of writing. It fell 0.8 percent in the last 24 hours. The fact that the cryptocurrency is trading below $19,000 indicates the density of options for selling. cryptocoin.com As we reported, the overall cryptocurrency market followed BTC. In the last 24 hours, the overall market cap has dropped 1.4 percent.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.

Show Disclaimer


source site-3