Claim BonusCrypto Market Braces For $6.5 Bln Bitcoin And Ethereum Monthly Expiry, What’s Ahead?
The crypto bulls hold the market higher as traders brace for monthly expiry. Both Bitcoin and Ethereum trade near resistance levels, with a possible pullback in BTC and ETH prices anticipated by traders.
Crypto market sentiment remains mixed as the Fear and Greed Index falls from 71 to 66 amid Binance and the DOJ $4.3 billion settlement and CEO Changpeng “CZ” Zhao pled guilty to federal charges.
$6.5 Billion Bitcoin and Ethereum Expiry
108k BTC options of notional value $4.05 billion are set to expire on November 24, with a put-call ratio of 0.83. The max pain point is $33,000, indicating that traders expect a rise in Bitcoin price amid expiry.
BTC price jumped 0.5% in the past 24 hours, with the price currently trading at $37,406. The 24-hour low and high are $36,923 and $37,643, respectively. Furthermore, the trading volume has decreased by 45% in the last 24 hours, indicating a decline in the interest of traders.
1.2 million ETH options of notional value $2.48 billion are about to expire with a Put Call Ratio of 0.72. The max pain is $1700, significantly lower than the current price.
ETH price jumped 0.5% in the past 24 hours, with the price currently trading at $2070. The 24-hour low and high are $2,041 and $2,088, respectively. Furthermore, the trading volume has decreased by 40% in the last 24 hours, indicating a decline in the interest of traders.
Despite positive sentiment, traders brace for volatility after the Binance and CEO CZ events. The crypto market participants believe a significant drop in market cap as a result of the reshuffling of trades.
Furthermore, the trading activity may go on the lower side due to Christmas and annual delivery. Experts are bullish on buying crypto amid Bitcoin halving and institutional investors-led rally.
Popular analyst Rekt Capital recommends accumulating on any deeper retraces. He predicts BTC upside move to continue amid pullbacks near resistance levels.
Also Read:
- Hong Kong SFC Wary of Binance’s License Amid Regulatory Pressures
- Whale Moves Over 50 Mln XRP As Price Continues To Rally
- Cathie Wood’s Ark Invest Sells Another Batch Of GBTC Holdings
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP News: Ripple Taps UK Investment Giant to Bring RWA Tokenization on XRP Ledger
- The Web3 Wallet Is Maturing. What Should We Expect?
- Godex Review: No-KYC exchange for private crypto conversions
- US Jobs Data: Bitcoin Falls to $66K as Wall Street Sees Rise in Nonfarm Payrolls
- Breaking: Binance, Franklin Templeton Launch Tokenized Fund Collateral for Institutions
- BTC Price Prediction Ahead of US Jobs Report, CPI Data and U.S. Government Shutdown
- Ripple Price Prediction As Goldman Sachs Discloses Crypto Exposure Including XRP
- Bitcoin Price Analysis Ahead of US NFP Data, Inflation Report, White House Crypto Summit
- Ethereum Price Outlook As Vitalik Dumps ETH While Wall Street Accumulates
- XRP Price Prediction Ahead of White House Meeting That Could Fuel Clarity Act Hopes
- Cardano Price Prediction as Bitcoin Stuggles Around $70k
