Bitcoin (Btc) Entrepreneurs are closely watching $ 20 billion monthly expiry options set for June 27. Although Bitcoin has dropped 1.72% in the past 30 days, entrepreneurs who use options to redeem against the downside risk are bracing for a steep decline.
The recent price recovery can provide Bulls a major opportunity to strengthen support to $ 105,000, a level that can prove the decisive push towards a new full time in the coming weeks.
Currently, Open Interest For Call (BUY) options stand for $ 11.2 billion, compared to $ 8.8 billion for options to sell (sell). Notably, $ 7.1 billion in those who put options have strike prices at $ 101,000 or less. As a result, the advantage has changed dramatically in favor of bullish bets.
The best shot of bitcoin bears depends on increasing uncertainty
Some observers in the market give Bitcoin strength to a sluggish tone from the US Federal Reserve Chair Jerome Powell. In his semiannual testimony Tuesday before the House Committee on Financial Services, Powell said “many paths are possible” about interest rates, including “cutting earlier” if inflation remains covered.
Other Fed officials, including governors Michelle Bowman and Chris Waller, have indicated that they expect rates in advance of the Fed policy meeting, citing recent data suggesting inflationary pressures controlled, according to Yahoo Finance. Meanwhile, the S&P 500 index has risen to its highest level in four months.
Bitcoin Bulls views these acquired stock markets as an early signal that investors currently in the short-term government bonds can easily pivot towards riskier assets in search of higher return. This thesis was strengthened as an analyst project of a moderate 5% S&P 500 income growth for 2025.
Therefore, even the central banks prevent the expansion of money base In the near term, the denial of produce in fixed income instruments can still fuel the upward momentum of Bitcoin. As the expiry of options approaches, the most effective bearish scenario will require increased uncertainty, arising from a falls into the hashrate or geopolitical instability, such as increasing tensions in the Middle East.
Related: June remains Bitcoin’s danger zone, while the S&P 500 eyes on Tag -init rally
Bitcoin Bulls will have an edge if BTC price passes $ 90,000
Below are five possible situations based on current price trends. Outcomes estimate theoretical profits based on open imbalance but exclude complex techniques, such as selling placement options to obtain reversible price exposure.
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Between $ 100,000 and $ 101,500: $ 1.74 billion calls compared to the $ 1.75 billion placed, a balanced result.
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Between $ 101,500 and $ 102,500: $ 1.86 billion calls compared to the $ 1.62 billion placed, favoring calls by $ 235 million.
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Between $ 102,500 and $ 104,500: $ 1.93 billion calls compared to the $ 1.18 billion placed, favoring calls by $ 750 million.
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Between $ 104,500 and $ 106,000: $ 2.47 billion calls compared to the $ 1.06 billion placed, favoring calls by $ 1.41 billion.
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Between $ 106,000 and $ 108,000: $ 2.84 billion calls compared to the $ 750 million placed, favoring calls by $ 2.1 billion.
To reduce losses, Bears should force Bitcoin below $ 101,500 on June 27, a 5% decline from the current $ 107,300. On the other hand, the Bulls can strengthen their position by keeping price above $ 106,000, which is a potential setting of the stage for a July rally, especially if the bitcoin spot Funds exchanged by exchange (ETFS) The flow continues.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
