【Bitcoin Options Analysis】 November 4
The results of the U.S. midterm elections are still pending.
Hedging demand remains concentrated around $78,000–$80,000.
Since yesterday, a new concentration of call open interest at the $78,000 strike for the November 7 expiry has persisted and continued to grow. It now accounts for approximately 1% of total OI and around 97% of OI for that expiry.
Options walls are clustered near the current price, between $77,000 and $80,000.
If price breaks below this range, the next level to watch could be around $75,000.
A key market-maker positioning transition level sits near $76,500. Above this level, large price swings tend to be dampened, making technical support and resistance levels more likely to hold.
Implied volatility (BVIV) has risen since yesterday evening and is now stabilizing in the low 40% range.
The focus is on how price action and market structure evolve once the U.S. midterm election results are announced.
※ I share this analysis every morning in our options community.
※ Analysis primarily based on GEX data.
#Bitcoin
#BTC
The results of the U.S. midterm elections are still pending.
Hedging demand remains concentrated around $78,000–$80,000.
Since yesterday, a new concentration of call open interest at the $78,000 strike for the November 7 expiry has persisted and continued to grow. It now accounts for approximately 1% of total OI and around 97% of OI for that expiry.
Options walls are clustered near the current price, between $77,000 and $80,000.
If price breaks below this range, the next level to watch could be around $75,000.
A key market-maker positioning transition level sits near $76,500. Above this level, large price swings tend to be dampened, making technical support and resistance levels more likely to hold.
Implied volatility (BVIV) has risen since yesterday evening and is now stabilizing in the low 40% range.
The focus is on how price action and market structure evolve once the U.S. midterm election results are announced.
※ I share this analysis every morning in our options community.
※ Analysis primarily based on GEX data.
#Bitcoin
#BTC
