CandleFocus Bitcoin options show increased caution as $100K remains elusive
2024-11-27
Author: Content Editor
Bitcoin, the largest cryptocurrency, reached an all-time high of $99,830 but has since dropped over 8% to $91,377.32. Despite a 120% rise in 2024, market activity suggests heightened caution among bitcoin investors. The decline in the call-put skew index for bitcoin options expiry indicates a more protective hedging approach. The expiry of $11.8 billion in bitcoin options on December 27 could result in substantial price movements, with a 68% probability that bitcoin will move 16% lower or 20% higher. Profit-taking by long-term holders and stable volatility metrics suggest further swings in the market.
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