The US markets have closed again. We look at the live Bitcoin price and the prices of the top 25 crypto. Then we analyze what the expiration of the monthly options may mean tomorrow. We also see what’s changing at Coinbase and tell you how eBay is stepping further into NFTs.
We start, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto fall again
At the time of writing, the live Bitcoin price is quoting EUR 18,995.89 ($19,940.688). This is 4.45% lower than during our crypto update yesterday.
The prices of the top 25 crypto are also falling. Besides the stable coins and 2 exceptions, we only see red numbers. The exceptions are for Leo Token (LEO) and Polygon (MATIC) which are currently quoting +7.61% and +6.60% respectively. The biggest loss is currently for Lido Staked Ether (STETH), which is losing 9.07%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Will overdue crypto options rule the market tomorrow?
On Friday at 10 a.m. (Dutch time), crypto options with maturities of six months, one quarter, one month and one week will expire. With all these maturities coming together on Friday, this is a very big shift in the market, especially since the trend in 2022 has been much more bearish than thought. As a result, the bears can reap hefty benefits on Friday if prices print as much as possible. We see this in BTC options, for example.
How much money are the bears making on the BTC options?
To determine how much money the bears can make, we must assume the price of Bitcoin on Friday morning at 10 a.m. Depending on the exchange rate, these are the most realistic scenarios:
Bitcoin exchange rate between $18,000.00 and $20,000.00: 500 calls vs. 33,100 puts. The net result for the bears is then $620 million.
BTC rate between $20,000.00 and $22,000.00: 2,800 calls vs. 27,000 puts. The bears then quote a net result of $520 million.
Bitcoin price between $22,000 and $24,000: 5,900 calls vs. 26,600 puts. In this scenario, the bears quote a net result of $480 million.
So we see that the bears have every interest in keeping the BTC price below $20,000.
Expired Ethereum (ETH) options are also becoming a crypto bear party
Looking at the statistics for Ethereum (ETH) options, we see that the open interest to the $1,100 price is in favor of the bears, with the bears having every interest in keeping the price lower than $1,000. Whether that succeeds will be exciting, as the live Ethereum (ETH) price currently stands at $1,057.81. This is 6.00% lower than yesterday.
Crypto investors must say goodbye to Coinbase Pro
Crypto exchange Coinbase has announced that the platform Coinbase Pro is going to disappear. Instead, they are going to make all market activity available to all traders on one account under the name Advanced Trade.
In that account, in addition to spot trading, you will find features such as strike, borrow, dapp wallets and a coinbase card. Advanced Trade is already available now, but in the coming weeks they will be switching customers with a Coinbase Pro subscription to Advanced Trade. In this blog you will find all relevant information.
eBay buys NFT marketplace KnownOrigin and dives deeper into NFTs
Online auction house eBay has been integrating from NFT for some time. One started that development since 2021, and last month it launched its own collection on Polygon (MATIC). This apparently tastes like more, because today they announced a new deal.
Indeed, the e-commerce giant announced that it has acquired the English NFT marketplace KnownOrigin for an undisclosed sum. The deal includes the founders, the entire team and all intellectual property of the NFT marketplace.
The KnownOrigin marketplace currently features 80,600 items. $8.8 million has been moved on the platform and the items are held by some 13,400 owners. You can read the entire press release here.
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 updated in real time. Are you interested in other investments besides crypto? Then our weekly price forecast on Monday morning 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 on rational grounds if, when, what and how much you want to invest.”
