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#BTC #Option $BTC Hey, guys, today is the last working day of the month and the first quarter, so 15 billion bitcoin options will be burned today. The put/call ratio is currently at 0.85, which means more longs are selling than shorts. Spot markets are usually not affected by derivative expirations, but today's event is a big one, so there may be some additional volatility. Stay tuned.

#BTC #Option $BTC

Hey, guys,

today is the last working day of the month and the first quarter, so 15 billion bitcoin options will be burned today. The put/call ratio is currently at 0.85, which means more longs are selling than shorts. Spot markets are usually not affected by derivative expirations, but today's event is a big one, so there may be some additional volatility.

Stay tuned.

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#Bitcoin $BTC #BitcoinWeekly Hey, guys. Hope you're okay. This is the weekly update on Bitcoin. In the last weekly update, I said that bitcoin would consolidate to build up strength for a further upward move. Overall the forecast is working out exactly, we saw an attempted decline to the 67k zone, from where the price was bought back up again and returned to the 69k zone. Today we will take a closer look at the onchain metrics to confirm the technical analysis more fundamentally. 1. open interest in derivatives. Continues to remain at a high level, if we saw a significant drop in OI, this could be interpreted as unloading, but this is not the case, OI remains high, which in the current uptrend conditions, could be interpreted as accumulation. 2. Stock exchange reserves There is a significant decline in reserves, which, indirectly indicates accumulation on cold wallets and preparation for HODL assets. 3. exchange netflow. On the graph you can also see a decrease in the bitcoin balance on exchanges, which is a confirmation of the upcoming growth, a similar pattern was observed in November 2023. 4. In terms of TA, as before, we can distinguish the key support of 67 thousand, and more distant 64 thousand. Targets remain the same at 72, 74 and 79 thousand. 5. The news FUD remains positive, the launch of Ethereum ETF trading is expected in June, which will also have a positive effect. In these conditions, it makes sense to continue to remain bullish and build your trade from the long. Always DYOR. Guys our community is expanding and we are almost 10 thousand, you can write in the comments what content you miss, I try to read all the comments. And also put 👍 this idea if it was useful to you and subscribe so you don't miss regular updates. Stay tuned.
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