Meanwhile, the US markets have closed again. We take a look at the live Bitcoin price and the current prices of the top 25 crypto. Furthermore, we look ahead to the expiration of Bitcoin options and what do we expect from the price around the expiration of options? We analyze.
We start of course with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price flat, prices top 25 crypto show mixed results
At the time of writing, the live Bitcoin price is EUR 33,111.84 ($36,958.53). This is 0.57% higher than when the US markets closed last night.
When we look at the top 25 crypto we see varying results. There are crypto coins that made gains in the last 24 hours. Currently Binance Coin (BNB) is leading the way with + 4.52%. However, most crypto coins in the top 25 recorded a loss over the past 24 hours. This loss is greatest for Terra (LUNA), which is losing 9.87%. Of course, you can always analyze all live crypto prices on the Tradeincrypto.com site.
Bitcoin options expire. How is the Bitcoin options market doing?
For many investors it will be an exciting day. At 10 am (Dutch time) the weekly options and monthly options for Bitcoin will expire. This is obviously a good time to take a look at how the Bitcoin options market is doing. For now, the distribution based on the Bitcoin price is as follows:
A total of $2.3 billion worth of options expire. Depending on the Bitcoin price at 10 am Dutch time, this will be the result:
BTC price between $35,000 and $37,000: 660 calls vs. 13,550 puts. The net result is then $ 450 million in favor of the put (bear) options.
Bitcoin exchange rate between $37,000 and $39,000: 1,300 calls vs. 13,100 puts. The net result is then $ 315 million in favor of the put (bear) options.
BTC price between $39,000 and $41,000: 3,710 calls vs. 8,170 puts. The net result, still before the bears, is then $180 million.
With that, we see that the bears don’t need much to push the price down a bit before expiration so that the price reaches between $35,000.00 and $37,00.00 (or lower). On the other hand you could argue that the bulls don’t need to bring much either to lift the price over $39,000 and thus limit the loss. However, after the poor reaction to yesterday’s news, this seems unlikely. That the bears will take another action is more plausible.
Bear signal: Binance sees massive influx of BTC
Normally it is seen as a bullish signal when crypto coins are transferred from the crypto exchanges. This is because these transfers are usually to private wallets. Thus, when investors do this, they are likely to expect long-term price increases. On the other hand, it is seen as a bearish signal if a lot of coins are suddenly transferred to the exchange. This is explained as an intention to take profits.
Today we saw two notable transactions. On crypto exchange Binance, an incoming transfer of 10,000 BTC was recorded. So this is a very bearish signal. On the other hand, on another crypto exchange, Gemini, a transaction of 10,000 BTC also took place a few hours later. Unlike normal, this need not be a bull signal. In fact, Gemini is also engaged in over the counter sales. So it cannot be excluded that this transaction was also a sales transaction, but outside the exchanges. Analysts are therefore taking into account that the picture of these transactions is bearish and that the BTC can be sold at Binance. Perhaps to lower the price when the options expire?
These quotes are important for Bitcoin investors
Based on various technical analyses we see that Bitcoin is currently struggling with resistance at $37,000. If this is broken through, a breakout to $40,000 is obvious. This is the first bullish target. If the recovery is so fast that this resistance is also broken, a further rise to $ 48,000 is obvious. We see this in the video analysis below.
On the other hand, we see that there are still a number of support levels that are keeping Bitcoin from a strengthened bearish path. Therefore, the bears would like to see the price drop through $30,000, after which a rapid further decline could follow.
How to profit from this price picture
So we see a wide range between $30,000.00 and $40,000.00 within which Bitcoin can move a lot. There is also a chance that the largest crypto currency will go through this range fairly quickly. In such an uncertain market, it is good to take your precautions. That’s where these 5 tips can help.
For more experienced traders, it might also be an idea to explore the possibilities of trading directly on the options market. Crypto exchange Huobi has some smart options for this. You can read more about that and the attractive welcome bonus in the Huobi introduction from our colleagues at Tradeincrypto.com. In any case, we will follow the course of events tomorrow. You can expect an update around lunchtime.
Want to stay up to date on the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast might be a reading tip.
Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.
