A watershed moment is approaching for bitcoin, and it promises to shake up the entire crypto market. With a staggering $13.6 billion worth of BTC options expiring, volatility is at an all-time high. This deadline, set for November 29, becomes a potential lever for the bulls, who aim to raise the price of the flagship crypto beyond the mythical $100,000 mark.
The bulls have a card to play with bitcoin
Bitcoin news: the expiration of BTC options this month constitutes one of the biggest events of 2024. With a total amount of 13.6 billion dollarscall options (purchase) are ahead of put options (sell) with an open interest of 7.4 billion dollars against 6.2 billion. This superiority, although less than usual, offers a unique opportunity to optimistic investors.
For call options to predominate, several scenarios are possible depending on the closing price:
- Between $86,000 and $90,000: a net gain of $1.65 billion for call options;
- Between $90,000 and $94,000: $2.6 billion in favor of buyers;
- Between $94,000 and $98,000: an advantage of $3.55 billion;
- Between $98,000 and $102,000: $4.58 billion for the bulls.
Faced with this pressure, bears will have to fight to keep BTC below $90,000. But asset resilience, showing a 34% increase over 30 daystips the scales in favor of the bulls.
Can BTC Price Reach $100,000?
The issue of BTC options goes beyond simple speculation. As investors flee risky assets due tomacroeconomic uncertaintiesbitcoin is resisting. The last few days have seen a rebound of 5%consolidating confidence in this flagship crypto asset.
However, reaching $100,000 will depend onother key factors :
- 20% of call options, or $4.25 billion, target this value;
- Put options above $100,000 represent less than 2% and are almost useless, capping at $80 million;
- Macroeconomic pressure, combined with inflationary signals, could strengthen BTC’s position as a safe haven.
As Barclays reminds us: “ Price uncertainties naturally encourage people to postpone investments. »
A context that could benefit bitcoin, ready to overcome its historical resistance.
At the start of the month, our colleague reported the expiration of 28,000 Bitcoin options, with a total value of $2 billion. Increased volatility resulted. The rest is history: a few days later, the price of BTC jumped, once again confirming the unpredictable but captivating nature of this crypto asset.
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