Even if Bitcoin Rebounded earlier in European day, it is still up to less than 1% in the last 24 hours. With the end of August in the touching distance, the largest cryptocurrency seems to end the month in the red, as he has done in the past three years.
However, this is the best return of August since 2021, and there are signs on the options market that gains could arrive before the expiration of the month.
Bitcoin and Ether options worth more than $ 14.6 billion should expire on Friday with the “Max Pain” level at $ 116,000. Max Pain is the exercise price to which the greatest number of options expires without value, which generally makes the greatest financial pain for optional holders and the greatest advantage for sellers of options. It is above the current price, so sellers are encouraged to push BTC above to this level to minimize their costs.
The Coindesk 20 index, a wider market measurement, added 3.2% in the last 24 hours and the Coindesk 80, which includes a large strip of smaller chips, increased by 4%.
In the longer term, the 200 -day mobile average Bitcoin has exceeded $ 100,000. BTC has been negotiated above the 200 days level since the end of April, highlighting the strength of its long-term trend.
The 200 -day mobile average is a long -term trend indicator that smooths prices for approximately six months, helping investors distinguish bull and leafy market conditions.
Positioning of derivatives
- Open bitcoin (OI) Through the best places in derivatives, began to slide, which is in accordance with the action of prices down in recent days, which implies that traders are actively leaving their lever -effect positions.
- BTC OI now amounts to $ 30.3 billion, just less from the top of all time to $ 32.6 billion, according to VELO data. The three -month annualized database is still up and is currently 8% to 9% in all exchanges, which implies that basic trade is still profitable.
- In the options, the volatility curve implicit upcoming Bitcoin suggests that the market expects long -term volatility to be higher than in the short term, while other metrics indicate a more immediate lower prospect.
- More specifically, the recent decision of the 25 Delta was part of a negative territory for short -term deadlines indicates a clear change in the feeling of the market, traders paying a bonus for the appetses on calls to obtain protection against the drawbacks.
- The lowering feeling is confirmed by the 24 -hour put / call volume, which shows a significant asymmetry towards the put, another sign of traders is actively hiding or speculating on a drop in prices.
- The APR financing rate in the main perpetual exchange sites is starting to bounce back to around 8% to 10% annualized, according to VELO data.
- BTC annualized financing on the Binance has become negative (-0.39%) For a short period today before returning to around 10%. This indicates that although there may have been pockets of lowering feeling, the overall market of the market is starting to be more favorable by traders who are ready to pay a bonus to bet on an increase in prices.
- Coinglass data shows $ 266 million in liquidation 24 hours a day, biased 58% for shorts. Ethn ($ 99 million)BTC ($ 47 million) and soil ($ 20 million) were the leaders in terms of theoretical liquidations. The Binance liquidation thermal card indicates $ 111,593 as a basic liquidation level to monitor in the event of a price increase.
Talk about tokens
- Cronos Disculted Tuesday crypto-bassier feeling, joining more than 56% after Crypto.com and Trump Media (DJT) said they planned to create a CRO cash company of $ 6.4 billion.
- The announcements of Crypto Treasury occurred almost daily in last month when companies are starting to adopt and adapt the approach launched by Michael Saylor’s strategy (MSTR).
- However, price action often does not correspond to what could be perceived as a bullish event. When Verb Technology Co. (VERB) announced a private investment of $ 558 million to establish a tone The treasure, your almost immediately dropped by about 10%.
- This CRO agreement is different. First of all, it is linked to Trump Media, a company linked to President Donald Trump, but secondly – and probably more important – it gives use of the Cronos token which had been previously used mainly as an exchange token for crypto.com.
- The agreement includes the creation of a new system of rewards on TRUTH Social which will allow users to convert the “gems” of the platform to chips CRO, with other plans to allow subscription payments and reduced prices by using CRO.
- Bloomberg noted that CEO of Crypto.com, Kriszalek, had donated $ 1 million to the Trump inaugural Committee and also visited Trump’s Mar-A-Lago home after electoral victory.
- The CRO is currently negotiated at $ 0.225 despite the drop of $ 0.141 last week, the news increased the negotiation volume by 24 hours by 1,300% to more than a billion dollars, as it has become an aberrant value of the market while bitcoin and ether languished almost critical critical support levels.
