Naturally, we look at live Bitcoin (BTC) and crypto prices. Then we look at what happens when the weekly and monthly options expire tomorrow. Then we analyze the BTC price in the long term and finally we share the Bitcoin price key quotes in the short term.
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto rise
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 21,774.44 ($21,703.97). This is 1.69% higher than yesterday around the same time.
Sentiment for the other crypto in the top 25 is also favorable. We see only green numbers with one exception. Ethereum Classic (ETC) is currently posting the largest gain at +9.99%. The exception is Leo Token (LEO), which is posting a 1.03% loss. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Coins (Image: Pexels / Worldspectrum)
Bitcoin (BTC) monthly and weekly options expire tomorrow. Here’s what you can expect
Tomorrow is the last Friday of the month. Then, at 10 am Dutch time, the monthly and weekly options for Bitcoin (BTC) will expire. We can see from the price whether the bulls or bears have the advantage. Depending on the price at the time of expiration, this is the expectation:
Bitcoin price between $20,000.00 and $21,000.00: 1,100 calls vs. 8,200 puts. The bears earn $140 million.
BTC price between $21,000.00 and $22,000.00: 1,600 calls vs. 6,350 puts. The bears earn $100 million.
Bitcoin price between $22,000 and $24,000: 5,000 calls vs. 4,700 puts. The bulls and bears are balanced.
BTC price between $24,000.00 and $25,000: 7,700 calls vs. 1,000 puts. The bulls earn $160 million.
With that, it is obvious that the bulls will prevail tomorrow. We can also see this from the huge discount currently in place for the premium on CME Bitcoin futures. This also puts the short investors at a heavy advantage. The question is how long this scenario will last. the last time such discounts were quoted was in July 2021, after which a short squeeze and price recovery followed.
Crypto (Image: Pexels / Karolina Grabowska)
Analysts not positive about BTC price in the long run
We regularly see analyses pass by where analysts show that the Bitcoin (BTC) price development will remain bullish in the long term. Expectations that the price will cross the $100,000 mark at the halfway mark in 2024 are often mentioned. Now, due to the bear market, more doubts are coming to these favorable long-term prospects. In an extensive analysis, several analysts show themselves significantly less positive.
For example, they expect prices between $34,133.82 and $45,063.46 in 2025 (the year after the next half-life). One does not see Bitcoin crossing the $100,000 mark until 2031.
Bitcoin (BTC) price key price in the short term
We are currently seeing a slightly bullish market. Analysts anticipate that the market is mostly awaiting the speech that FED Chairman Powell gives tomorrow at the Jackson Hole seminar. If these indicate more interest rate intervention, the price may fall quickly. One then focuses on the psychologically important limit of $20,000.
If Powell gives the markets courage there is reason for a bull-run. The first resistances to come into play are the psychologically important $22,000 and the 200-week moving average (around $22,800). Meanwhile, the namesake of the Bollinger Bands, John Bollinger, signals that the market is not reacting to the narrowing of the bandwidth, while a breakout normally follows. This is reason for Bollinger to call for caution.
Twitter won’t load because you didn’t give permission.
I wish I knew. All I do know is that there is lots of change in trading dynamics across a host of vehicles and one needs to be quite careful.
– John Bollinger (@bbands) August 24, 2022
So investors need to continue to focus on ways to make a profit in an uncertain crypto market.
Want to stay up to date on the latest 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 Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide rationally if, when, what and how much to invest in.”