In January, the options expiry event for Bitcoin (BTC) resulted in decreased volatility and relatively stagnant prices. The event saw the expiration of a large number of BTC options, but it did not lead to market manipulation or significant price swings. Overall, BTC had a small gain for the month, while Ethereum (ETH) experienced a net loss. The market now looks ahead to the March options expiry, which is expected to be significant with a notional value of $10.43 billion. Despite the slow trading, trader behavior indicates "greed" with the Fear and Greed Index remaining relatively high. BTC leveraged traders are rebuilding their positions after recent events, but there is potential for volatility from short and long leveraged trades. BTC remains more resilient compared to ETH and altcoins, and there are bullish expectations of reaching $120,000. However, there is a slight bearish sentiment due to the lack of clear direction, and traders are cautious about a potential reversal in the coming months. ETH and altcoins depend on stablecoin inflows rather than investments from BTC.



Other News from Today