【Bitcoin Options Analysis | Nov 3】
BTC price action around the U.S. midterm elections.
The main concentration of hedging demand is currently around $78,000–$80,000.
Major options walls are clustered near the current price, at $79,000, $77,000, and $75,000.
Another key level for market makers (MMs) is around $77,300.
If BTC trades below this level, larger price swings may become more likely, as traditional technical support and resistance levels could become less effective.
Meanwhile, implied volatility (BVIV) has declined into the 30% range, despite the upcoming U.S. midterm elections.
This suggests that the market is currently pricing in smaller future price movements.
Combined with the concentration of options walls around the current price, BTC price action may remain relatively contained within this area.
As the U.S. midterm elections approach, I'll be closely watching how implied volatility evolves.
※ I share these analyses every morning in my options community.
※ Analysis is primarily based on Gamma Exposure (GEX) data.
#BITCOIN
#BTC
BTC price action around the U.S. midterm elections.
The main concentration of hedging demand is currently around $78,000–$80,000.
Major options walls are clustered near the current price, at $79,000, $77,000, and $75,000.
Another key level for market makers (MMs) is around $77,300.
If BTC trades below this level, larger price swings may become more likely, as traditional technical support and resistance levels could become less effective.
Meanwhile, implied volatility (BVIV) has declined into the 30% range, despite the upcoming U.S. midterm elections.
This suggests that the market is currently pricing in smaller future price movements.
Combined with the concentration of options walls around the current price, BTC price action may remain relatively contained within this area.
As the U.S. midterm elections approach, I'll be closely watching how implied volatility evolves.
※ I share these analyses every morning in my options community.
※ Analysis is primarily based on Gamma Exposure (GEX) data.
#BITCOIN
#BTC
