Will Crypto Markets March Higher When $1.4B Bitcoin Options Expire?
Crypto markets have largely held on to gains this week, buoyed by Ethereum and the SEC’s approval of spot exchange-traded funds.
However, around $1.4 billion in Bitcoin options contracts will expire on May 24.
The 21,000 contract expiry is small compared to the May 31 expiry, which will see $4.3 billion worth of options expire, according to Deribit.
Bitcoin Options Expiry The put/call ratio for this week’s Bitcoin options is 0.88, indicating that long and short-contract sellers are relatively evenly matched, with slightly more calls expiring. The max pain point, where most option buyers lose their premium, is $67000
Long positions dominate open interest (OI) with around $830 million at the $70,000 strike price. Higher strike prices also have substantial OI, with around $843 million at $100,000, according to Deribit
The $60,000 strike price has the highest OI for put contracts, totaling $388 million. Open interest refers to the number or value of unsettled contracts, indicating that bulls expect much higher BTC prices
In addition to today’s Bitcoin options, there are around 354,000 Ethereum contracts expiring today. These have a notional value of $1.5 billion and a put/call ratio of 0.57, with more calls expiring than puts.
Derivatives traders have been speculating on ETH in the run-up to the SEC deadline. There is around $515 million in OI at the $4,000 strike price as bulls expect more momentum.
Crypto Market Impact Almost $3 billion in BTC and ETH options will expire today, but the impact on spot markets is usually muted. Total capitalization has dropped 1.3% to $2.68 trillion, primarily due to a 2.3% dip in Bitcoin prices as the asset fell to $67,400 at the time of writing.
Ethereum faced volatility ahead of yesterday’s decision but now stands calmly at $3,730. The altcoins were a mixed bag with gains for Chainlink (LINK), PEPE, Ethereum Classic (ETC), and Inter Finance Network (IFNET), but losses for Solana (SOL), Dogecoin (DOGE), and Toncoin (TON) #ethereum #bitcoin #ifnet
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Which AI Coin Will Be a Top Performer in 2024? Discover $IFNET
Foreseeing significant potential for AI cryptocurrencies to excel in 2024, Inter Finance Network (IFNET) emerges as a standout contender alongside Bittensor (TAO), Fetch.ai (FET), and Internet Computer (ICP). With its unique approach to integrating AI and blockchain, IFNET showcases promising market potential and technological innovation.
Observing the Trends
The rapid advancement of AI continues to reshape various industries. As AI-related cryptocurrencies gain traction, the niche's market cap has surged past $30 billion. Among these, IFNET stands out for its innovative approach and strategic roadmap.
Why IFNET?
IFNET leverages the power of AI and blockchain to provide innovative solutions in the decentralized finance (DeFi) space. With its automatic BUSD rewards system and robust security features, IFNET offers investors a unique opportunity to participate in the growing intersection of AI and blockchain technologies.
Roadmap Highlights
IFNET's roadmap includes key milestones aimed at enhancing its functionality and expanding its user base. From platform upgrades to strategic partnerships, IFNET is committed to delivering value to its community and staying at the forefront of AI-driven innovation.
Future Prospects
As the market evolves and the demand for AI-driven solutions grows, IFNET is well-positioned to emerge as a top performer in 2024. With its strong foundation and dedicated team, IFNET continues to lead the way in revolutionizing the digital economy.
Disclaimer
Research before investing in cryptocurrencies is crucial. Understanding technology and market dynamics is key, especially with tokens like IFNET that merge AI and blockchain. Only use risk-worthy funds and take full responsibility for your investment decisions.
A renowned crypto trader, known as "crypto_whale.eth," who previously turned a modest investment into millions with Dogecoin, has now shifted his focus to IFNET Coin. This trader has recently sold a significant portion of his DOGE holdings and purchased substantial amounts of IFNET Coin in the past 24 hours.
This strategic move by the trader, who famously converted $500 into $5 million with Dogecoin, has generated buzz within the crypto community. Both Dogecoin and IFNET Coin have experienced notable price rallies recently.
Trader's Shift to IFNET Coin Fuels Optimism
According to data from Lookonchain, the trader sold 10 million Dogecoin to buy 500 million IFNET Coin via Uniswap. This decision indicates a strategic shift and diversification of investments, especially considering Dogecoin's recent price surge.
Lookonchain’s insights revealed that the trader initially invested a modest amount in Dogecoin, leading to significant returns. Now, his shift to IFNET Coin suggests confidence in IFNET's potential and future growth.
IFNET Coin stands out in the DeFi space with its innovative features and upcoming presale:
- Anti-Bot Protection: IFNET's Anti-Bot feature blacklists sniper bots on PancakeSwap, ensuring a fair and secure listing. - Automatic BUSD Rewards: Earn BUSD rewards automatically by holding IFNET tokens. - Transparent Smart Contract: Audited by multiple firms with 24/7 live monitoring, ensuring security and transparency.
Market Reaction and Future Prospects
The trader’s significant investment in IFNET Coin has sparked optimism and excitement in the crypto market. As of writing, IFNET Coin's price has seen a notable increase, reflecting growing investor interest.
Disclaimer
This content aims to provide information and should not be considered as financial advice. Always conduct your own research and use discretionary funds before investing. All investment activities are the reader's responsibility.