Markt Wrap: Bitcoin Claws Back to $36.4K While 25% of Ether Options Will Expire in March

Bitcoin is making gains, though much of the day saw the cryptocurrency in a holding pattern. inzwischen, a quarter of ether options are expiring in March, meaning traders are making some bets on the first fiscal quarter of 2021.

  • Bitcoin (BTC) Handel herum $36,286 ab 21:00 koordinierte Weltzeit (4 p.m. UND). Gewinnung 5.5% gegenüber dem vorherigen 24 Std.
  • Die 24-Stunden-Reichweite von Bitcoin: $32,463-$36,552 (CoinDesk 20)
  • BTC above the 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians.

Bitcoin-Handel auf Bitstamp seit Jan.. 10.
Quelle: TradingView

Bitcoin was able to recover from a drop in price Wednesday. After going as low as $32,463 um 01:00 koordinierte Weltzeit (8 p.m. ET Tuesday), it was able to stay in a $34,500-$35,000 range before breaking out to $36,464 before settling at $36,286 zum Zeitpunkt der Drucklegung.

Weiterlesen: Analysten sind derzeit über den kurzfristigen Preisausblick von Bitcoin düster

Despite the past few hours of price gains, analysts refer to a day of little price action as a “sideways” or “flat” market. It’s not clear after so much excitement for the world’s oldest cryptocurrency in the first few days of 2021 what might happen next for the price, according to Misha Alefirenko, founder of crypto market maker VelvetFormula.

“I have no clear view at the moment,” Alefirenko told CoinDesk. “Looks like big guys stepped away to wait and see. The market has to find its own balance.”

Bitcoin spot volumes were clearly taking a breather after Monday’s record-high daily zenith of $13.5 billion for the eight exchanges tracked by the CoinDesk 20. For Wednesday, the tally was at $4 Milliarden zum Zeitpunkt der Drucklegung, closer to the past month’s $3.8 billion daily spot average.

Daily BTC/USD volumes on major exchanges the past month.
(Shuai Hao / CoinDesk Research)
Quelle: CryptoCompare

jedoch, Constantin Kogan, partner at crypto investment firm Wave Financial, has a bearish view of the bitcoin market. “We may go even lower to $23,000,” Kogan said. Because “buy the dip” is a strategy deployed in the crypto market if digital assets start dumping, prices may eventually find their near-term bottom. “There is a zone from which they (traders) will start to actively buy back,” Kogan added.

Weiterlesen: Ex-Ripple CTO Can’t Remember Password to Access $240M in Bitcoin

Another chart to note as bitcoin’s price has lifted over 23% so far this year is that of the dollar index (DXY), a measure of the greenback’s strength versus a basket of other fiat currencies. This time last year, the DXY index price was over 97. So far in 2021, it’s struggling to stay above 90.

The US Dollar index 4-hour chart the past year.
Quelle: TradingView

Wave Financial’s Kogan also noted there has been a closer, albeit opposite, relationship between United States duckets and bitcoin of late. “The decline in bitcoin Monday occurred simultaneously with the strengthening of the dollar index," er sagte. "Als Ergebnis, the two largest currencies – digital and traditional – once again showed an inverse correlation.”

Ether options expirations piling up in March

Die zweitgrößte Kryptowährung nach Marktkapitalisierung, Äther (ETH), was up Wednesday, Handel herum $1,110 und Klettern 2.5% im 24 Stunden ab 21:00 koordinierte Weltzeit (4:00 p.m. UND).

The amount of open interest in ether options is heavily favoring the March 21 Ablauf. That is where 25% of current options open interest are to be found, according to data from aggregator Skew.

Ether options open interest by expiration date.
Quelle: Schräg

“Mostly it’s rolling,” said Vishal Shah, Gründer der Terminbörse Alpha5, referring to a strategy where traders “roll up” to a higher strike price. And while most strikes are favoring a sub-$800 spot price, the majority of the trades for Wednesday were calls (62%) versus puts (39%).

Current-day option flow orientations.
Quelle: Schräg

Shah told CoinDesk the March 21 expiration date pile-up correlates nicely with the end of the fiscal quarter and may explain why it’s taking the lion’s share of ether options open interest. “Quarterly expirations are typically larger than monthly, and March is now the nearest quarterly expiry," er sagte.

Andere Märkte

Digitale Assets auf dem CoinDesk 20 are all green Wednesday. Bemerkenswerte Gewinner ab 21:00 koordinierte Weltzeit (4:00 p.m. UND):

Weiterlesen: Mehrere Token Siehe Rallye inmitten der bevorstehenden "Alt-Saison"

Rohstoffe:

  • Öl war unten 0.75%. Preis pro Barrel Rohöl von West Texas Intermediate: $52.86.
  • Gold was in the red 0.35% und bei $1,848 zum Zeitpunkt der Drucklegung.

Schatzkammern:

  • Die 10-jährige US. Treasury bond yield fell Wednesday dipping to 1.090 und in den roten Zahlen 3.3%.

Der CoinDesk 20: Die Vermögenswerte, die für den Markt am wichtigsten sind
Quelle: https://www.coindesk.com/coindesk20
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Quelle: Coindesk

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