The crypto market has continued extending its long-held consolidation phase, with this sideways trading largely coming about as a result of Bitcoin’s lack of momentum
Analysts are now noting that it may persist further in the near-term, as there are no immediate catalysts for momentum
One factor that could lend itself towards shifting this trend is the expiry of 60% of all Bitcoin options next week
Close to $1 billion in contracts are expiring on June 26th, and options traders with influence over the market may be incentivized to spark a trend in one direction or another
That being said, compared to the margin and futures market, options still comprise only a small percentage of the crypto’s total outstanding open interest.
Bitcoin and the aggregated cryptocurrency market have once again extended their long-held bout of sideways trading. BTC did experience some slight volatility overnight when it rallied to $9,400 before being pushed down to lows of $9,100.
From this point, it has recovered most of these losses, but buyers do seem to be growing increasingly weak as it continues ranging sideways.
The expiration of over $1 billion worth of Bitcoin options contracts could be a catalyst for imminent volatility, however one research firm is questioning just how impactful this event will be on the market.
Bitcoin’s Consolidation Persists, but This Could Soon Come to an End
At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,290. This marks a slight decline from daily highs of nearly $9,500. It also marks a rebound from recent lows of $9,100.
Over the past several days, it has been stable around $9,400. The overnight decline that led it down to its current levels seems to point towards some underlying weakness amongst buyers.
Its consolidation range is still intact as long as buyers are able to maintain its price above the upper-$8,000 region.
The imminent expiration of Bitcoin’s monthly and quarterly options contracts on June 26th is one event that could trigger a trend-defining movement.
Arcane Research spoke about this in a recent report, saying:
“Close to $1 billion bitcoin options contracts will expire on Jun 26, accounting for 60% of the total open interest in the BTC options market. In situations like this, there could be significant financial incentives to move the spot price towards a certain level before the expire date.”
Image Courtesy of Arcane Research
The Options Market Still Remains Small, Signaling That it May Lack Influence
It is important to keep in mind that Bitcoin’s options volume only accounts for 1% of that seen by BTC futures and spot trading.
That being said, Arcane Research believes that the event may not have any meaningful impact on the market.
“A price move going into the expiry next week will then likely be driven by the spot or futures market, and not changes in the open interest in the options market.”
Featured image from Shutterstock. origin »
Key takeaways BTC is down 3% in the last 24 hours and is now trading below $108k. The bearish performance comes as momentum in the market continues to weaken. Bitcoin slips below $108k The cryptocurrency market is opening the weekly candle bearish, with Bitcoin and other major cryptocurrencies suffering huge losses in the last 24 […]
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Bitcoin fell below $108,000 as rising reserves on Binance and cooling institutional demand indicate a loss of short-term momentum. Bitcoin was trading at $107,607 at press time, down 2.7% in the past 24 hours. The asset has moved between $106,786…
Bitcoin’s early October rebound is losing momentum amid a resurgence of Bitcoin volatility, with the digital asset failing to hold its recent highs. After briefly topping $110,000 this week, the
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Ethereum’s rally momentum fades as its correlation with Bitcoin weakens and inflows slow. Traders eye $4,211 support or a potential rebound toward $4,957 if demand recovers.
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Bitcoin surpassed the $124,000 mark and headed for a new all-time high as the bullish October sentiment picked early momentum. The top coin’s price surge saw the total cryptocurrency market capitalization climb to over $4.
Key Takeaways
Liquidity collapse and ETF instability have weakened Bitcoin’s structural support and price momentum. Taker sell dominance and liquidation clusters near $117K add downside pressure.
Bitcoin's journey is shaping up to be one of both excitement and caution
For now, all dips remain prime opportunities to buy
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Since Donald Trump’s election victory on November 5, Bitcoin (BTC) has experienced a substantial rally, reaching record highs above $108,000. However, this momentum has recently faltered, with the cryptocurrency dropping below the critical $100,000 mark, This has prompted analysts to speculate on a potential deeper correction with some experts believing Bitcoin could dip to levels around $85,000 or even $75,000 before resuming its upward trajectory.
Bitcoin’s price prospects look promising after its recent notable upside momentum above the $100,000 pivotal milestone. This prompts a broader bullish outlook for the cryptocurrency asset to surge significantly in the upcoming weeks to unprecedented levels as the market gradually regains its uptrend.
Bitcoin’s price sharply declined nearly 2% on the 1-hour chart, falling below $95,000, deviating from its recent upward momentum toward the $100,000 milestone. Data from CryptoSlate shows that Bitcoin reached a low of $94,824 before recovering to $96,007 at the time of writing.
After experiencing a brief correction from its new yearly high of $35,300, Bitcoin (BTC), the leading cryptocurrency in the market, is showing signs of renewed bullish momentum. As the digital asset approaches the $35,000 mark again, a key indicator is following patterns observed in 2020, suggesting a potential surge that could propel Bitcoin to reclaim its previous peak of $65,000.
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Bitcoin showed reduced wallet growth and declining mean transaction sizes.
Traders have turned bearish, and implied volatility has decreased, suggesting a period of caution in the market.
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Bitcoin price has managed to power through and retain its momentum above the $23,000 mark. Over the past week, the coin displayed bullish momentum. In the last 24 hours, Bitcoin showed minor appreciation, however, it has remained steady above its local support level.
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Bitcoin (BTC) has been caught in a firm uptrend over the past several days, which has primarily been the result of the massive upwards momentum that was sparked when it tapped lows of $6,400 earlier last week.
Coinspeaker Uncertainty Looms as Bitcoin Records near Term Bullish Momentum to $7,400After reaching a price level of $ 7340. 59 after the opening, the Bitcoin market was able to reverse during the session as the bears took control.
Bitcoin has been able to extend the upwards momentum that it has incurred over the past day, which has allowed it to gain what appears to be a solid foothold within the mid-$8,000 region. This foothold may allow bulls to begin pushing the cryptocurrency higher, although it is important to note that BTC is still.
Overnight Bitcoin (BTC) was able to incur a significant amount of upwards momentum that sent it shooting past its previously established resistance level around $10,800, and any extension of this upwards momentum is highly likely to send the crypto into the $11,000 region in the very near-future.
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Jeez… Bitcoin Hasn’t Stopped Yet Call us a broken record, but wow, Bitcoin (BTC) has been on an absolute tear. As of the time of writing this, the asset has just tapped $7,100 for the.
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As cryptocurrency and blockchain continue to attract new investment, more institutional capital and regulatory oversight pervade the global markets. In light of recent developments, cryptocurrency prices are showing signs of gaining positive momentum.
Welcome traders and investors, to your weekly price update on bitcoin and gold. At the time of writing, bitcoin is trading at $6,490. It has recently retreated from the $6,600 region, which it had been trying to...
Bitcoin – Bullish Momentum Builds
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? The general outlook for Bitcoin remains overwhelmingly bearish as the cryptocurrency is roughly 70% down from it’s all-time-high and most long-term indicators remain
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? Market Overview After scraping the bottom of the barrel last week, Bitcoin appears to have mustered enough short-term momentum to attempt a bull reversal but, at the time of this writing, this is yet to be determined.
While some investors are confident about the long-term growth of the crypto market, the fact remains that the current price has not yet recovered from the big correction in January. The market, which started to pick up in April, failed to sustain its upward momentum and peaked in early May before going downhill once more.
The ongoing “luck of the draw” for all cryptocurrency markets seems to hold up quite well. Although a few currencies have suffered from minor losses, the Bitcoin price is still in the green.
Bitcoin Price Key Highlights Bitcoin price has broken above the double bottom neckline and bullish flag to signal upside momentum. Price is forming another bullish flag pattern, which might signal a continuation of the climb.
Key Points Bitcoin cash price traded further higher and broke the $750 resistance zone against the US Dollar. Yesterday’s highlighted declining channel was broken with resistance near $735 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Octagon Strategy, one of Asia’s largest digital asset brokerages, remains bullish on Bitcoin despite the recent downward trajectory that pushed the price below the $6,000 barrier last Friday.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
