Bitcoin Price Analysis: BTC Unable to Reclaim $50K as Bearish Indications Loom
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Options Market Analysis
Bitcoin cost is now sub $49,000, about 27% below the ATH ($69k). Choices traders set different hedging methods during the previous weeks to safeguard against the marketplace drawback. Next Friday, December 17th, about $630 million worth of bitcoin alternatives agreements will expire in Deribit. The max pain scenario for this expiry is if the rate is at $50K. Calls at 60k strike price have the highest open interest with 1005 contracts. Alternatives traders have sold lots of calls for this strike. They appear to take a look at the 60k strike price as a resistance in the meantime.

below 50, suggesting
bears’greater power – in the market
. According to historic data, whenever this index falls below 50, we have had a down pattern or, at best, a ranging stage in market value action. The hope is for this index to recover and get out of the area.< figure id="attachment_157106" aria-describedby ="caption-attachment-157106"design ="width: 1600px"class ="wp-caption aligncenter "> Source: TradingView Short-term Analysis-Daily The circumstance is bad on the everyday chart either. The long-lasting uptrend in the market, which was formed considering that the COVID crash, has actually been lost. The OBV indication shows comparable conditions to the Apr-May crash. The uncertainty across the monetary markets, because
of the statement of the inflation
rate in the US and Europe, might present some volatility in the coming weeks. Source: TradingView On-chain Analysis The short-term holder’s SOPR(Spend Output Profit Ratio, which estimates sell rate ratio to last time a coin was moved or purchase rate), showing these financiers are selling at a loss. This suggests fear for leading buyers who tend to be sensitive about short-term volatilities.
Source: CryptoQuant The above analysis was complied by @N__E__D__A, @GrizzlyBTClover, and @CryptoVizArt. Data provided by @tsypruyan specifically for CryptoPotato.