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A decisive turning point is approaching for Bitcoin, and it promises to shake the entire crypto market. With impressive BTC options worth $13.6 billion set to expire, volatility is at its peak. This expiration, scheduled for November 29, becomes a potential lever for bulls aiming to lift the price of the flagship cryptocurrency beyond the mythical $100,000 mark.
Bulls Have a Card to Play with Bitcoin
The Bitcoin news: the expiration of BTC options this month is one of the biggest events of 2024. With a total amount of $13.6 billion, call options lead put options with an open interest of $7.4 billion against $6.2 billion. This superiority, although less than usual, offers a unique opportunity for optimistic investors.
$13.6B IN #BITCOIN OPTIONS EXPIRING FRIDAY.
THIS COULD EASILY FUEL THE $100K RALLY!!!
🚀🚀🚀
— Kyle Chassé / DD🐸 (@kyle_chasse) November 28, 2024
For call options to prevail, several scenarios are conceivable depending on the closing price:
- Between $86,000 and $90,000: a net gain of $1.65 billion for call options;
- Between $90,000 and $94,000: $2.6 billion in favor of buyers;
- Between $94,000 and $98,000: an advantage of $3.55 billion;
- Between $98,000 and $102,000: $4.58 billion for the bulls.
Faced with this pressure, bears will need to struggle to keep BTC below $90,000. But the resilience of the asset, showing a 34% increase over 30 days, tips the balance in favor of the bulls.
Can BTC Price Reach $100,000?
The stakes of BTC options go beyond simple speculation. As investors flee risky assets due to macroeconomic uncertainties, Bitcoin holds its ground. Recent days have seen a 5% rebound, consolidating confidence in this flagship crypto asset.
However, reaching $100,000 will depend on other key factors:
- 20% of the call options, or $4.25 billion, target this value;
- Put options beyond $100,000 represent less than 2% and are almost useless, capped at $80 million;
- Macroeconomic pressure, combined with inflationary signals, could bolster BTC’s position as a safe haven.
As Barclays reminds us: ” Price uncertainties naturally encourage the postponement of investments. ”
A context that could benefit Bitcoin, ready to surpass its historical resistances.
Earlier this month, our colleague reported the expiration of 28,000 Bitcoin options, with a total value of $2 billion. Increased volatility resulted from this. The rest is known: a few days later, the price of BTC surged, confirming once again the unpredictable yet captivating nature of this crypto asset.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
