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<ul>
 <li>Bitcoin (BTC) made a strong comeback to the $43,000 levels after the US Fed announced three interest rate cuts in 2024 following the FOMC meeting.</li>
 <li>Data shows a significant increase in protective option trading despite the recent pullback in the crypto market, especially with BTC dropping to $40,000.</li>
 <li>Despite the general market pullback, the focus in the options market remains on BTC, with many options expected to expire.</li>
</ul>
<p><strong>While Bitcoin price continues to move steadily, current option data sheds light on future price levels for BTC.</strong></p>
<h2 id="strong-bitcoin-option-data-december-15-2023-strong"><strong>Bitcoin Option Data – December 15, 2023</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126546" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-48.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>The world’s largest cryptocurrency, Bitcoin (BTC), made a strong comeback to the $43,000 levels after the US Fed announced three interest rate cuts in 2024 following the FOMC meeting. Here is a look at Bitcoin option data and what it says about the future price of Bitcoin.</p>
<ul>
 <li>Option Contracts: 37,000 BTC options are expected to expire.</li>
 <li>Put-Call Ratio: The Put-Call Ratio is 1.02, indicating slightly more put options (bearish bets) than call options (bullish bets).</li>
 <li>Max Pain Point: The Max Pain point is $42,000. Max Pain is the price at which the least amount of option value is lost. In this context, $42,000 indicates a level where most options could become worthless, benefiting option writers.</li>
 <li>Nominal Value: The total nominal value of these options is $1.58 billion.</li>
</ul>
<p>Data shows a notable increase in protective option trading, especially with the recent crypto market pullback, where BTC dropped to $40,000. Protective options, especially put options, act as a hedge against potential price declines. A Put-Call Ratio greater than 1 for BTC implies a more bearish sentiment in the Bitcoin option market.</p>
<p>Despite general market pullbacks, the focus in the option market remains on BTC, with many options set to expire. Implied Volatility (IV) has been relatively stable for a month, indicating that the market does not expect significant price fluctuations in the near term. The phrase “ongoing major option changes” suggests ongoing adjustments and position-taking in the option market, likely in response to market developments or new information.</p>
<h2 id="strong-btc-inflows-are-rapidly-increasing-strong"><strong>BTC Inflows Are Rapidly Increasing</strong></h2>
<p>Bitcoin and Ethereum experienced massive inflows within 24 hours after the FOMC meeting that ended on Wednesday. According to a popular crypto analyst, these inflows reached an impressive amount of $20 billion. The last time such significant inflows occurred was in December 2020, when the BTC price surged from $18,000 to $65,000! In the short term, the price of Bitcoin (BTC) is currently fluctuating between $39,575 and $44,800. Both attempts to surpass the upper limit and pullback attempts to the support level face resistance.</p>
<p>Bitcoin’s price is expected to continue fluctuating between $43,500 and $41,700 in the coming days, anticipating a bullish breakout above the year’s highest levels of $44,800. To confirm a bullish trend, it is crucial for the price to remain above $42,510 levels until the daily close; otherwise, bears may strengthen their influence. Banking giant Goldman Sachs expects the BTC price to reach $100,000 by 2024.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/bitcoin-option-data-will-the-upside-movement-for-btc-price-continue/">Bitcoin Option Data: Will the Upside Movement for BTC Price Continue?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Bitcoin Option Data: Will the Upside Movement for BTC Price Continue?

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