CandleFocus 18,000 Bitcoin Options Expiring with Max Pain at $62K Amid Weak Market
2024-10-11
Author: Content Editor
Bitcoin and Ethereum are facing significant options expiries amidst weak market conditions. On October 11, approximately 18,000 Bitcoin options and 212,000 Ethereum options are set to expire. Both cryptocurrencies are trading near crucial levels of $60,000 and $2,300 respectively, garnering attention from traders and analysts. The options market reflects the overall decline in sentiment, with open interest at its lowest since 2023. However, despite the market weakness, there are opportunities for traders, especially with the low implied volatility in Bitcoin options expiring on November 8. The current market conditions also raise questions about Bitcoin's historical growth pattern during halving cycles, as it has remained largely stagnant for over 30 weeks.
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