For cryptocurrency investors, today was important like other Fridays, a significant number of options were closed. With over $15 billion worth of options closing in the early hours, hopes for the expected price movement motivated by open positions on cryptocurrencies also faded. Investors who were hopeful for a move to the 100 thousand dollar region did not get what they wanted due to the indifferent spot market.
Option Closing BTC
Today CME has begun to experience problems and aims to return to full operation by 16:30. However, the expected $15.4 billion worth of options for BTC have expired. Kyle summarized the current situation by sharing the chart below.
“$15.4 billion worth of options just expired.
BTC: P/C 0.58, maximum pain $100,000 – call-heavy structure and post-expiration positioning look much clearer. “Now that this period has passed, it looks like early December will be quieter unless new catalysts emerge.”
Since interest in larger peaks in the options market for the end of the year is weak, we will now watch movements depending on the news flow and speculative buyers or sellers. December 10 will be the day when the Fed will announce its interest rate decision, and Japan will make its interest rate decision on December 19. Probably, as the December decision approaches, we will talk about things such as what steps the Fed will announce against the possible interest rate increase by Japan. Pricing the potential for the Fed to take action for Japan on December 10 may help the rise. If it takes a position below expectations, the Fed will make an interest rate decision. crypto- It may act more negatively. This is the general expectation in cryptocurrencies for December.
BTC Charts
BTC It has still not exceeded the targeted threshold of 93 thousand dollars. Even though it tested 92 thousand dollars, the continuation did not come. Poppe expects us to return to six-digit prices once the key zone he has marked below is breached. BTC is at $91,500 at the time of writing.
Jelle wrote:
“Bitcoin
$90,846.46It is consolidating below the $91-93K resistance level and is performing well. The short-term trend remains upward, it will be interesting to see what today brings. US markets will reopen for just a few hours today (9:30am-1pm EST). “It would be great if we could overcome resistance in this time frame.”
