Based

Bitcoin

<h2 id="quick-take">Quick Take</h2> 
Data from <a href="https://metrics.deribit.com/options/BTC">Deribit</a> paints a compelling picture of Bitcoin’s potential by the end of Q1 2024. Based on strike price, options open interest pinpoints a possible value of $50,000 for Bitcoin by March 29. The call wall at this price is robust, exhibiting a notional value of $275 million, which dwarfs the notional values of put options. 
This imbalance is reflected in the put/call ratio (0.32), indicating a significantly higher call options volume. It is important to note that the total notional value set to expire is a staggering $2 billion, with a max pain price of $31,000. 
The undercurrent of these data suggests a potential gamma squeeze, which, given the low levels of put options (all below $30,000), is likely to orient towards the upside rather than the downside. 
This analysis proposes a potentially bullish scenario for Bitcoin as we edge closer to Q1 2024. 
<figure id="attachment_378951" aria-describedby="caption-attachment-378951" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378951 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/march.png" alt="Options Open Interest, March 29 Expiry: (Source: Deribit)" width="1890" height="476" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/march.png 1890w, https://cryptoslate.com/wp-content/uploads/2023/12/march-300x76.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/march-1024x258.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/march-768x193.png 768w, https://cryptoslate.com/wp-content/uploads/2023/12/march-1536x387.png 1536w" sizes="(max-width: 1890px) 100vw, 1890px">
 <figcaption id="caption-attachment-378951" class="wp-caption-text">
 Options Open Interest, March 29 Expiry: (Source: Deribit)
 </figcaption>
</figure> 
The post <a href="https://cryptoslate.com/insights/deribit-data-hints-at-50000-bitcoin-value-by-march-2024-amid-potential-gamma-squeeze/">Deribit data hints at $50,000 Bitcoin value by March 2024 amid potential gamma squeeze</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Deribit data hints at $50,000 Bitcoin value by March 2024 amid potential gamma squeeze

Table of Contents

CryptoSlate

Other articles published on Dec 4, 2023

Bitcoin Cycle Analysis And Macro Factors Reveal When Price Will Reach $125,000

Tech Entrepreneur Urges Jamaica to Embrace STEM Education for the Fifth Industrial Revolution

The Countdown to the World Blockchain Summit Bangkok begins!!

U.S. Space Force Major Declares Bitcoin is of 'National Importance'

Bitcoin miners set revenue record fueled by November surge

Harga BTC US$41.500 Akibat The Fed Dovish dan ETF Bitcoin

Join our free newsletter for daily crypto updates!