Bitcoin Bulls Grab Market As Friday’s $1.7B monthly Options Expiry Remain Within Green Territory

2021-7-30 00:41

After spending weeks ranging within $30k, the bulls’ edge in this month’s $1.7 billion options expiry was strengthened by Bitcoin’s climb past $40,000.

A total of 42,850 Bitcoin (BTC) option contracts worth $1.7 billion are slated to expire on Friday, July 30. Bulls may be able to benefit from the $40,000 call (buy) options for the first time since the weekly expiry on May 21.

The most recent price spike may have been triggered by speculations that Amazon will accept cryptocurrency payments, but once the e-commerce giant denied the rumours, BTC has remained pretty stable.

Regardless of the rationale for the recent market strength, according to options markets, bulls have a few incentives to keep the $40,000 level.

Aggregate July 30 Bitcoin option open interest by strike. Source: Bybt.com

While the call-to-put ratio favors neutral-to-bullish call options by 21%, a large portion of those bets were placed at $45,000 and above strikes. With fewer than 14 hours to maturity, these options are almost worthless.

Related article | Bitcoin Bounces as $6.4B in Options Expire, Institutional Buying Slows Down: What’s Next?

Bulls Maintain Market Stronghold

For the monthly expiry, bears were overconfident, and 87 percent of neutral-to-bearish put options were placed at $39,000 or lower. A total of $105 million in put options will be available if bears can keep the price below this level on July 30.

Meanwhile, $320 million is invested in neutral-to-bullish call options below $39,000. As a result, the neutral-to-bullish call options have a $215 million advantage.

If the price stays above $40,000 on July 30, the bulls will have a $140 million lead. This difference appears to be sufficient to justify a price push over that level, at least until Deribit expiry.

BTC futures worth a total of $650 million are slated to expire this Friday, although the amount will be mostly determined by the CME’s $455 million, as traders may close their positions before the expiry, which takes place at 3:00 p.m. UTC.

The options market data currently supports bulls, at least for the time being.

BTC/USD slumps back below $40k. Source: TradingView

Related article | Bitcoin Plunges Despite Tesla Boost Ahead of Record Options Lapse

Featured image from iStockPhoto, Charts from TradingView.com and Bybit

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66949.02 (+0.04%)
Объем 24H $27.448b
Изменеия 24h: 2.14 %, 7d: 10.27 %
Cегодня L: $66739 - H: $67036.39
Капитализация $1318.886b Rank 1
Цена в час новости $ 40183.09 (66.61%)

bitcoin within options expiry bulls climb past

Источник: bitcoinist.com

bitcoin within → Результатов: 126


Why One Trader Thinks Bitcoin Will See a $1,000+ Plunge Despite Ongoing Upswing

Bitcoin is currently showing intense signs of technical strength as it races towards $12,000 once again despite the recent rejection at this level The cryptocurrency is now well-positioned to see further upside but remains within a short-term consolidation phase until it shatters this level This uptrend may be bolstered by its break above a previously formed trading range within the lower-$11,000 region One analyst still believes that Bitcoin is at risk of seeing a large […]

2020-8-6 21:00


Фото:

Bitcoin’s Consolation Signals It Is Coiling Up for a “Monster” Sized Movement

Bitcoin has been caught within a firm bout of consolidation throughout the past several weeks, being unable to garner any momentum as it trades within the $9,000 region The cryptocurrency is flashing some signs of overt weakness as of late, as buyers have laced the upper-$9,000 region with heavy resistance One analyst is now noting that this consolidation is likely to result in BTC making a “monster” sized movement If the resistance between $9,600 and […]

2020-6-15 19:00


Bitcoin Price of $100K is Within Reach in 2019, Likely to See $20,000 Within Next Two Weeks: Senior Analyst

For investors in major cryptocurrencies, this month has seen some of the most febrile activity and best performance from the likes of Ethereum and Bitcoin for a long time. Just where will this ongoing bullish trend take Bitcoin in the near future? For Simon Peters – who works as an analyst for the online trading […]

2019-6-27 23:24


Фото:

Bitcoin Cash Football: Multiplayer World Cup App Powered By BCH

This week as the world watches the 2018 FIFA World Cup, a new online game called Bitcoin Cash Football has been launched where users can play as managers or players within a season of matches. Players earn fractions of bitcoin cash (BCH) by playing the game, but Bitcoin Cash Football is also having a World […] The post Bitcoin Cash Football: Multiplayer World Cup App Powered By BCH appeared first on Bitcoin News.

2018-6-22 19:39


Why the

A confusing 18 zero hashtag posted on June 19th provokes lots of debate within the crypto community. Members of the cryptocurrency community lost their minds when seeing this confusing code. The hashtag actually represents a cryptographic code known as a hash produced each time new transactions are validated and written onto the bitcoin blockchain.

2018-6-22 17:06


Фото:

EU’s European Blockchain Observatory and Forum to Host Blockchain AMA

The European Union (EU) has announced that it will host an online Ask Me Anything (AMA) session on June 18, 2018, at 6 p. m. CEST. The event, organized and hosted by the European Blockchain Observatory and Forum of the EU, will last for 90 minutes and cover blockchain technologies with in-depth explanations, interactive discussions with panelists and public questions answered live.

2018-6-13 20:42


Фото:

Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses

Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.

2018-6-13 20:24


ImmVRse is Aiming to Become the Leading VR Content Sharing Platform Within the Next Decade

Bitcoin Press Release: In order to create a solution that is versatile as well as scalable, ImmVRse has designed its server-side architecture on a hybrid model. Whilst Blockchain will be integrated in the securing of data on cloud storage, the media itself will be hosted on cloud platforms that provide the framework for operating Ethereum-based […] The post ImmVRse is Aiming to Become the Leading VR Content Sharing Platform Within the Next Decade appeared first on Bitcoin PR Buzz.

2018-6-13 10:29


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitfinex analysts predict Bitcoin surge as Dollar Index dips

Bitfinex analysts anticipate a bullish second half for Bitcoin as the Dollar Index's decline signals potential growth for the cryptocurrency. The post Bitfinex analysts predict Bitcoin surge as Dollar Index dips appeared first on Crypto Briefing.

Animoca Brands “comes to Bitcoin” with OPAL Protocol

Animoca Brands says Bitcoin is ready for Web3. The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC. BLIF, a new token of the OPAL Protocol, will power the ecosystem.

WOO unveils innovation hub focused on Bitcoin’s ecosystem

WOO plans innovation hub expansion to bolster Bitcoin’s ecosystem The new initiative will focus on projects bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem. WOO has announced plans aimed at using its innovation hub and the WOO token to power the next growth chapter for the Bitcoin (BTC) ecosystem.

Норвегия ужесточает контроль над дата-центрами, что вызывает опасения у майнеров биткоинов

Парламент Норвегии (Стортинг) принял новый закон о дата-центрах, который может привести к усиленному контролю над майнерами биткоинов (BTC), работающими в стране. Закон, одобренный 15. 04. 2024, направлен на снижение экологического воздействия дата-центров и продвижение использования возобновляемых источников энергии.