Bears have a $100M reason to keep Bitcoin price under $45K until Friday’s options expiry
BTC price is in a freefall, and data suggests bears will keep the pressure on until Friday’s options expiry.
Auto Added by WPeMatico
BTC price is in a freefall, and data suggests bears will keep the pressure on until Friday’s options expiry.
BTC price took a sharp tumble below a key support level, but data shows today’s dip could be another buying opportunity for bulls.
Analysts are mostly bullish on BTC’s short term price action, even if a retest of the $45,000 level must happen first.
ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution.
Recent strength in Ethereum boosted investors' morale and gave bulls the upper hand in Friday's $2.4 billion options expiry.
Holding $42,000 will help determine whether BTC bulls bag a $175 million profit in March 25’s $3.34 billion options expiry.
Short sellers got liquidated to the tune of $150 million, but two metrics show pro traders did not flip bullish after the recent Bitcoin rally.
BTC price struggles to sustain $40,000, but Friday's options expiry might give bulls the $160 million profit needed to keep the positive momentum.
Traders who believe ETH will recover but unlikely surpass $3,800 ahead of May can benefit from the skewed iron condor strategy.