Today more than 20 thousand Bitcoin (BTC) contracts expire. The pressure on its price is maximum

Expiración de contratos de Bitcoin (BTC)

✍️ 19 January, 2024 - 10:25 👤 Editor: Jakub Motyka

  • Bitcoin (BTC) faces the expiration of approximately $890 million in options contracts, amid a bear market with the price of Bitcoin falling below $41,000.
  • The expiration event, with a put/call ratio of 1.1 and a "pain point" at $44,000, suggests possible downward pressure on the price of Bitcoin, which could fall below $40,000.
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Today, Friday, January 19, 2024, the cryptocurrency world is watching the expiration of nearly $890 million in equity options contracts. Bitcoin (BTC)..

This event comes as cryptocurrency markets continue their downward trend, with Bitcoin falling below $41,000 for the first time in a month, raising the question: will it fall further?

Today more than 20 thousand Bitcoin (BTC) contracts expire

Around 22,000 Bitcoin options contracts expire today, January 19. Despite being a smaller expiration event compared to the previous week, which saw $1.68 billion in contracts expire without a significant impact on the markets, the focus is on the nominal value of the contracts that expire this week.

This nominal value is 890 million dollars, and the put/call ratio is 1.1, which indicates a market balanced between bears and bulls that sell long and short contracts.

The "maximum pain point" for Bitcoin (BTC) contracts, the price at which the greatest losses are generated, is $44,000, approximately 3 thousand dollars above the current price in the spot market. This suggests possible downward pressure on the price of Bitcoin.

In addition, the hype generated by Bitcoin (BTC) spot ETFs appears to be waning in spot markets, which have fallen 3% on the day to 1.7 billion dollars.

Bitcoin (BTC) has lost more than 15% since its annual high reached on January 10, and is trading at $41,334 at the time of publication of this news, with the possibility of fall below $40,000 and find support around $38,000 in a widely anticipated correction.

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