Today's Bitcoin Options Analysis
⚠️ Today marks a major options expiration! ⚠️
BTC has declined following the reported Binance hack.
The nearest major upside options wall has shifted lower from $82,000 to around $80,000.
Hedging demand is now heavily concentrated around $80,000.
The key downside options wall remains at $79,000.
This is a significant level, and BTC appears to be battling around it right now.
The next important downside level is $78,000. If BTC breaks below $79,000, the $78,000 area could become the next focus.
The key Gamma Flip level for market makers (MMs) is also around $80,000.
With BTC currently trading below this level, caution is warranted as price movements could become more volatile.
In this environment, traditional technical support and resistance levels may become less reliable.
Meanwhile, Bitcoin implied volatility (BVIV) has surged into the mid-40% range.
This indicates that the options market is pricing in larger potential price swings ahead, so extra caution is advised.
#BTC
#bitcoin
⚠️ Today marks a major options expiration! ⚠️
BTC has declined following the reported Binance hack.
The nearest major upside options wall has shifted lower from $82,000 to around $80,000.
Hedging demand is now heavily concentrated around $80,000.
The key downside options wall remains at $79,000.
This is a significant level, and BTC appears to be battling around it right now.
The next important downside level is $78,000. If BTC breaks below $79,000, the $78,000 area could become the next focus.
The key Gamma Flip level for market makers (MMs) is also around $80,000.
With BTC currently trading below this level, caution is warranted as price movements could become more volatile.
In this environment, traditional technical support and resistance levels may become less reliable.
Meanwhile, Bitcoin implied volatility (BVIV) has surged into the mid-40% range.
This indicates that the options market is pricing in larger potential price swings ahead, so extra caution is advised.
#BTC
#bitcoin
