Bitcoin’s Price Action
Bitcoin bulls aim for $110,000 before a massive $12.4 billion options expiry on Friday. This expiry is the largest ever, adding pressure on BTC price.
Open Interest and Market Sentiment
Open interest heavily favors call (buy) options, suggesting bullish sentiment. If Bitcoin’s price stays below $110,000, these bets become worthless. Conversely, a push above this level could trigger a cascade of buying, propelling the price higher.
Technical Analysis
Bitcoin recently broke above a crucial resistance level near $100,000, a positive sign for bulls. However, the $110,000 mark represents another significant hurdle. Technical indicators show mixed signals, with some suggesting overbought conditions.
Expert Opinions
Some analysts believe the market is overly optimistic, and a pullback is likely. Others argue that institutional buying and positive news flow could fuel further gains. The expiry event adds another layer of complexity, making it difficult to predict short-term price movements. Friday’s expiry is a key moment for Bitcoin, with the potential for significant volatility in either direction.
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