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The Bitcoin (BTC) price has witnessed a notable advancement, marking a nearly 3% surge today following a period of&nbsp;sluggish trading.&nbsp;Meanwhile, the recent rally, after a prolonged volatile market sentiment, precedes a&nbsp;major&nbsp;event: the expiry of 18,000 Bitcoin options. With the options expiry in focus, the market participants are closely watching the implications of this on BTC’s&nbsp;price trajectory and the broader <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> market. 
<h2 id="span-data-preserver-spaces-true-market-analysis-ahead-of-options-expiry-span">Market Analysis Ahead of Options Expiry</h2> 
The recent surge in Bitcoin prices has&nbsp;investors’&nbsp;attention, following volatile trading and ahead of&nbsp;today’s&nbsp;<a href="https://coingape.com/education/crypto-options-trading/" target="_blank" rel="noopener">options expiry</a>. Notably, As the market braces for the expiry of 18,000 Bitcoin options, analysts at Greeks.&nbsp;live&nbsp;to provide insights into the current options data. With a Put Call Ratio of 0.64, a Maxpain point at $62,000, and a notional value of $1.2 billion, anticipation is high regarding potential market movements post-expiry. 
Meanwhile, the recent weakness in crypto markets, compounded by falling volumes and outflows from US BTC ETFs, has raised concerns. Despite a slight recovery in investor confidence due to decreasing implied volatility (IV), uncertainties linger, particularly considering historical market trends in May. 
While Bitcoin garners attention, Ethereum (ETH) is also in focus as 280,000 ETH options&nbsp;are set&nbsp;to&nbsp;expire today. With a Put Call Ratio of 0.74, a Maxpain point of $3,050, and a notional value of $800 million, market participants&nbsp;are closely monitoring&nbsp;ETH’s&nbsp;price dynamics alongside BTC. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" src="https://pbs.twimg.com/media/GNM0HPDa4AADkTb?format=jpg&amp;name=4096x4096" alt="Bitcoin Open Interest Options Expiry" width="755" height="404">
 <figcaption class="wp-caption-text">
 Source: Greeks.live, X
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/dogwifhat-wif-price-shoots-13-amid-whale-accumulation-more-steam-left/" target="_blank" rel="noopener">Dogwifhat (WIF) Price Shoots 13% Amid Whale Accumulation, More Steam Left?</a> 
<h2 id="span-data-preserver-spaces-true-implications-amid-fund-outflows-span">Implications Amid Fund Outflows</h2> 
Despite the impending options expiry, both Bitcoin and Ethereum prices have rallied. In addition, this surge in the Bitcoin price comes despite reports of an $11.3 million outflow from <a href="https://coingape.com/bitcoin-etf-records-11m-outflow-as-grayscale-exodus-continues/" target="_blank" rel="noopener">US Spot Bitcoin ETFs</a> on May 9.&nbsp;Notably,&nbsp;Grayscale’s&nbsp;ongoing exodus continues to weigh on the Bitcoin ETF flows. 
However, as market participants navigate these developments, the coming hours post-options expiry will likely&nbsp;provide clarity on&nbsp;BTC and&nbsp;ETH’s&nbsp;short-term price trajectory. Traders remain&nbsp;vigilant,&nbsp;and&nbsp;prepared to react to any significant market movements resulting from this event. 
According to CoinGlass data, the <a rel="nofollow" href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank">Bitcoin Futures Open Interest (OI)</a> soared 1.84% to 480.25K BTC or $30.28 billion today. Simultaneously, the Ethereum OI noted an advancement of 0.58% to $10.76 billion&nbsp;at the same time. 
Meanwhile, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> soared 2.74% and traded at $62,946.19, while its trading volume from yesterday rose 8.08% to $26.04 billion. On the other hand, the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">Ethereum price</a> rose 1.80% to $3,034.26 ahead of the options expiry. 
Also Read: <a href="https://coingape.com/kraken-files-dismiss-sec-claims-unregistered-securities-trading/" target="_blank" rel="noopener">Kraken Fires Back At SEC Over Unregistered Securities Trading Claims</a> 
The post <a href="https://coingape.com/btc-price-rallies-18000-bitcoin-options-expire-today-what-next/">BTC Price Soars Ahead Of 18,000 Bitcoin Options Expiry Today,&nbsp;What’s&nbsp;Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

BTC Price Soars Ahead Of 18,000 Bitcoin Options Expiry Today, What’s Next?

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Ďalšie články zverejnené 10. 5. 2024

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