Pay close attention to the $11 billion in BTC options settling this week—the impact could even be greater than the FOMC.
These options expire on Friday. The Fed is unlikely to change interest rates at its meeting on the 29th, so the focus will be on whether its remarks are hawkish and on the PCE inflation data. Falling inflation would be good for ZEC, but these are all just expectations being priced in; the options settlement will have a tangible impact on the market.
A lot of positions are clustered above 83,000. When the price gets near that level, market-maker hedging can cause big swings. Once it moves out of this range, the market could easily fall again.
$BTC $ETH $ZEC
These options expire on Friday. The Fed is unlikely to change interest rates at its meeting on the 29th, so the focus will be on whether its remarks are hawkish and on the PCE inflation data. Falling inflation would be good for ZEC, but these are all just expectations being priced in; the options settlement will have a tangible impact on the market.
A lot of positions are clustered above 83,000. When the price gets near that level, market-maker hedging can cause big swings. Once it moves out of this range, the market could easily fall again.
$BTC $ETH $ZEC
