Value

Bitcoin

Billion

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s hold on the $60K range-low is at risk due to the expiration of $6.6 billion options.</li> 
 <li>Despite expected volatility, QCP Capital believes Bitcoin will maintain the $60K support.</li> 
</ul>  
<p>Bitcoin’s [BTC] hold on the $60K range-low is currently under threat due to the impending expiration of $6.6 billion in options. </p> 
<p>This marks the fifth time BTC has revisited this level, having previously retreated to $56K and $58K. </p> 
<h2 id="options-expiry-and-market-volatility">Options Expiry and Market Volatility</h2> 
<p>About $10 billion of crypto options are set to expire on June 28th, with $6.6 billion being BTC options. </p> 
<p>This could lead to increased market volatility and potentially break BTC’s range-low support. </p> 
<p>The max pain for BTC options is currently at $57K. This is the level that presents the least financial risk to market makers before the options expiry. </p> 
<p>Market makers often drive prices towards the max pain level to minimize losses. </p> 
<h2 id="qcp-capital-s-stance">QCP Capital’s Stance</h2> 
<p>Despite the expected volatility, crypto trading and hedge firm QCP Capital is confident that BTC will defend the $60K support. </p> 
<p>The firm points to easing sell pressure from the German government and an increase in inflows on US BTC ETFs as reasons for their optimism. </p> 
<p>However, if BTC prices fall further, short-term investors holding BTC at a loss may panic sell, potentially denting this optimistic outlook. </p> 
<p>A CryptoQuant analyst also noted that BTC had dropped below the short-term realized price of $62.6K, which could increase sell pressure. </p> 
<p>Despite potential market manipulation towards $57K, the data suggests that BTC could reclaim $60K and retest $62.6K. </p>

Can Bitcoin Uphold $60K Value Amidst $6.6 Billion Options Expiry?

Tabla de contenidos

CoinEagle.com

Otros artículos publicados el 28 jun 2024

Binance Tightens Security Measures to Combat Account Misuse and Enhance Platform Integrity

Ripple CTO Joins Criticism of FTX’s Strict KYC Measures

Why is Bitcoin price up today?

These 3 Crypto Presales Have Earned Millions: Playdoge, WienerAI, and BaseDawgz

Solana The Ethereum Killer; Celestia COO, Nick White, Makes Bold Prediction

Analyst Are Optimistic For Polkadot, Can It Rise Beyond 800%?

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!