Bitcoin Bears Target Sub-$75,000 to Minimize Potential Losses
Outlined below are five potential scenarios based on Bitcoin's current price trend. Each range reflects the imbalance between call and put options, indicating the theoretical profit. These estimates exclude complex strategies, as a straightforward approach to measuring their effects is unavailable.
1. $72,000 to $75,000: $1.4 billion in calls vs. $470 million in puts, resulting in a $930 million advantage for call (buy) options.
2. $75,000 to $80,000: $1.85 billion in calls vs. $270 million in puts, giving calls a $1.58 billion edge.
3. $80,000 to $85,000: $2.74 billion in calls vs. $130 million in puts, with calls favored by $2.61 billion.
4. $85,000 to $90,000: $3.38 billion in calls vs. $96 million in puts, giving a $3.28 billion advantage to calls.
5. $90,000 to $100,000: $4.52 billion in calls vs. $74 million in puts, resulting in a $4.45 billion advantage for calls.
To prevent a major loss in the year-end expiry, bears need to aim for a BTC price around $74,500. On the other hand, bulls could maximize gains by pushing BTC to $90,500 by December 27. Overall, current options market data suggests bullish momentum for Bitcoin moving into early 2025.