Ethereum

Bitcoin

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<ul> 
 <li>Earlier this week, the price of Bitcoin dropped below the critical support level of $27,000 and is currently fluctuating around $26,800.</li> 
 <li>Approximately 24,000 BTC options are set to expire, offering a Put-Call Ratio of 1.23, a maximum pain point of $27,000, and a notional value of $640 million.</li> 
 <li>The increasing volume of Bitcoin futures and options contracts may contribute to the lackluster performance of cryptocurrencies in October.</li> 
</ul> 
<p><strong>Bitcoin is still trading just below the $27,000 resistance level: Options for Bitcoin and Ethereum that expire today!</strong></p> 
<h2 id="strong-expiring-bitcoin-option-data-strong"><strong>Expiring Bitcoin Option Data</strong></h2> 
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126576" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Bitcoin-Ethereum" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-Ethereum-5.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Earlier this week, the price of Bitcoin dropped below the critical support level of $27,000 and is currently fluctuating around $26,800. Market participants will closely watch for any volatility before the end of the week on Friday.</p> 
<p>Approximately 24,000 BTC options are set to expire, offering a Put-Call Ratio of 1.23, a maximum pain point of $27,000, and a notional value of $640 million. Additionally, around 190,000 ETH options are nearing expiration, with a Put-Call Ratio of 0.71, a maximum pain level of $1,600, and a notional value of $290 million.</p> 
<p>Bitcoin (BTC) remains a dominant player, with a significant increase in weekly positions for BTC options. Notably, BTC Put positions make up 60% of the total, which is an unusual situation. On the other hand, Ethereum (ETH) seems to be progressing at a slower pace.</p> 
<figure id="attachment_129741" aria-describedby="caption-attachment-129741" style="width: 100%" class="wp-caption alignnone">
 <a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?quality=70&amp;ssl=1"><img decoding="async" loading="lazy" class=" td-modal-image wp-image-129741 size-full" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?resize=696%2C375&amp;quality=70&amp;ssl=1" alt="Bitcoin-Call-Put" width="696" height="375" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?w=859&amp;quality=70&amp;ssl=1 859w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?resize=300%2C162&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?resize=768%2C414&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?resize=150%2C81&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/Bitcoin-Call-Put.webp?resize=696%2C375&amp;quality=70&amp;ssl=1 696w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-129741" class="wp-caption-text">
  Bitcoin: Call &amp; Put
 </figcaption>
</figure> 
<p>Despite possible volatility, implied volatility (IV) has reached record-low levels during various underlying periods, with no clear signs of an imminent recovery. Moreover, liquidity has decreased recently, which may signal an important market event in the near future.</p> 
<p>The increasing volume of Bitcoin futures and options contracts may be contributing to the lackluster performance of cryptocurrencies in October. When Bitcoin’s open interest exceeds or reaches $7 billion, it often indicates increased greed among investors. Currently, that figure stands at $6.19 billion.</p> 
<h2 id="strong-bitcoin-price-movements-strong"><strong>Bitcoin Price Movements</strong></h2> 
<p>Bitcoin is still oscillating between $25,000 and $32,000, struggling to break through both support and resistance levels. On the daily chart, Bitcoin’s price is having difficulty surpassing the 200-day simple moving average level.</p> 
<p>Currently, it is testing the 50-day simple moving average around $26,500, an important level. Below this point, a cluster of previous highs and lows adds further potential constraints to a selloff down to $25,000. To convincingly surpass the $32,000 resistance, Bitcoin needs to pass the 200-day simple moving average located around $28,000.</p> 
<p>Some market analysts believe that Bitcoin’s price could drop to $20,000 before initiating the next bull run, possibly around the 2024 Bitcoin halving. However, developments and progress related to Bitcoin ETFs may limit this price drop.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/critical-option-data-to-watch-for-bitcoin-and-ethereum-investors-today/">Critical Option Data to Watch for Bitcoin and Ethereum Investors Today!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Critical Option Data to Watch for Bitcoin and Ethereum Investors Today!

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