Despite the reasonably long consolidation phase in the past couple of weeks, the options traders, together with the on-chain metrics, are showing unpredictability. The worry on the macro scale is affecting both the cryptocurrency and stock exchange.
Options Market Analysis
This Friday, January 21st, approximately $538 million worth of Bitcoin options contracts will expire on Deribit. The max discomfort situation is for the cost to be at $43K for this expiration. Require the $44K strike price have the highest open interest. Puts for the $39k strike cost have the highest open interest amongst put alternatives.
Open interest for 21Jan_44k_C has increased because January 11th, and most of them are call buyers. Leading Instrument OI change shows that possibly call option traders with $48K strike cost orders were not optimistic about a boost in the rate above this strike cost ($48K) for this expiration anymore.
suggests more financiers are
starting to be in earnings, and a down hair indicates the number of undersea individuals is growing. At the moment, NUPL is approaching the same
level(0.35 )that the marketplace remained in July 2020. This is an ideal description for the obvious unpredictability amongst analysts.< figure id="attachment_165131 "aria-describedby =" caption-attachment-165131"style="width: 1542px "class="wp-caption aligncenter ">
Source: CryptoQuant The technical analysis and options market review is prepared by @N_E_D_A.