Bitcoin Options Expiry Sparks Market Focus
- Bitcoin Price Fluctuation: Bitcoin is currently trading at $68,280, down 1.1% over the past 24 hours and 30% over the last 30 days, indicating weak market sentiment and a price approximately 50% below its all-time high of $126,080.
- Options Expiry Impact: $2.5 billion worth of Bitcoin options are set to expire today, with a max pain price of $74,000, drawing market participants' attention and potentially leading to increased short-term volatility.
- Derivatives Market Slowdown: Bitcoin logged a 24-hour trading volume of $47 billion, an 11% decline from the previous day, while total futures volume stands at $63 billion, down 18%, indicating that traders are trimming their risk exposure.
- Technical Analysis: Bitcoin remains below both the 50-day and 200-day moving averages, suggesting a bearish trend, with support levels at $65,000 to $66,000, and a breakthrough above $74,000 could signal a potential rebound.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 43021.587 | 51510.794 | 59993.107 | 68482.314 | 76964.627 | 85453.834 | 93936.147 |
| Fibonacci | 51510.794 | 57993.914 | 61999.193 | 68482.314 | 74965.434 | 78970.713 | 85453.834 |
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