Data That Will Change the Course in Bitcoin.

Aside from a minor decline in the middle of the week, crypto markets have remained relatively inactive and trading sideways for the past few days. However, approximately 18,280 Bitcoin options contracts will expire on May 10, which could create some volatility. According to Deribit, the face value of BTC contracts expiring this week is approximately $1.15 billion.

This week's call/sell ratio for BTC options was recorded as 0.64. This development means that more purchases are made relative to the short or the long contract expires. Long positions dominate open interest (OI), with approximately $700 million at strike prices of $70,000 and $100,000.

OI for contracts also starts to rise at $50,000 with around $360 million, according to Deribit. Overall, open interest for Bitcoin call options is more than double the OI for put options, indicating bullish investor sentiment.

Call options give the right to purchase the asset at a predetermined price on or before a certain date. Additionally, firms such as QCP Capital and Paradigm have observed a revival in demand for upside call options, including buyers expiring and covering positions in July and September.

Crypto markets gained 2.1% during the day, reaching $2.45 trillion in total market capitalization. However, they have accumulated around this level with little movement in either direction since mid-April.

Bitcoin fell below $61,000 on May 9 but recovered to reach $63,000 during the Asian trading session on Friday morning. #BTC has been in a downward trend since its all-time high in mid-March and has lost 15 percent since then. Ethereum prices hit an intraday low of $2,953 but have since recovered to $3,032. $BNB

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