Bitcoin price action decouples from stock markets, but not in a good way
Conflicting Bitcoin derivatives data shows leverage traders bullish, while pro traders fear a deeper correction below $29,000.
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Conflicting Bitcoin derivatives data shows leverage traders bullish, while pro traders fear a deeper correction below $29,000.
Traders are calling for a “relief rally” to $35,000, but derivatives data shows bears stand to profit from this week’s $1.81 billion BTC options expiry.
Bitcoin is holding the $30,000 level, but the $640 million in BTC options that expire on May 20 could result in the price visiting recent lows.
Charts suggest BTC price will dip below $30,000, and derivatives data shows options traders becoming increasingly worried.
BTC is in a lengthy downtrend but three key price metrics explain why traders are confident that the $38,000 level will hold.
BTC price continues to trade in a wide range, providing an opportunity for options traders to use the Iron Condor strategy.
Digital currency markets have been tumultuous during the past month as bitcoin shed 15.43% and ethereum dropped 17.49% against the U.S. dollar. Moreover, crypto spot volumes are down 18.95% lower…
Holding BTC price below $39,000 will give bears a $350 million profit in this week’s $1.9 billion options expiry.
Ethereum Foundation members expect “the merge” to happen before year-end and savvy options traders will profit using this options strategy.
BTC staged a small relief rally, but securing $41,000 is the key to determining whether or not the current sell-off has ended.