Market Wrap: Bitcoin Hovers Around $34.2K While Options Traders Pay Up for Possible ETH Upside

After a record day in spot volume, bitcoin’s price went up, down and back up. Nel frattempo, most ether options traders are bearish, some are paying up in case it gets close to record highs.

  • Bitcoin (BTC) commercio in giro $34,278 come di 21:00 UTC (4 p.m. E). Guadagnando 3% rispetto al precedente 24 ore.
  • Gamma di 24 ore di Bitcoin: $32,528-$36,605 (CoinDesk 20)
  • BTC al di sotto delle medie mobili a 10 e 50 ore sul grafico orario, un segnale ribassista per i tecnici di mercato.

Trading di bitcoin su Bitstamp da gennaio. 9.
fonte: TradingView

Bitcoin’s price had an up-and-down day, going as high as $36,605 at around 08:00 UTC (3 a.m. E), falling to $32,528 at around 14:30 UTC (9 a.m. E) and then going back up to $34,278 al momento della stampa.

Andrew Tu, un dirigente per la società di trading quantistico Efficient Frontier, sees the $36,000 price level as “resistance,” an area where bearish traders seem primed to hit the sell button on bitcoin. “Right now bulls are challenging the $36,000 resistenza. It failed to get past $36,600 earlier during the afternoon Asia hours,"Ha detto Tu a CoinDesk. “When the U.S. East Coast woke up, the market started bidding the price upwards again.”

Monday’s bitcoin spot volumes were the highest ever seen since CoinDesk 20 data on eight major spot exchanges began being recorded. An astounding $13.3 billion in volume was traded Monday, the highest since Dec. 22, 2017, when volumes hit $9.7 miliardi.

Bitcoin volumes on eight major spot exchanges the past five years.
(Shuai Hao / CoinDesk Research)
fonte: CryptoCompare

Yet, spot volumes were much lower Tuesday, a $5.1 miliardi al momento della stampa.

Bitcoin volumes on eight major spot exchanges the past month.
(Shuai Hao / CoinDesk Research)
fonte: CryptoCompare

“There will likely be a battle to bring this past that $36,000-$36,600 gamma,” said Efficient Frontier’s Andrew Tu.

Volume will likely play a factor in that battle given the blockbuster spot exchange activity at the week’s open. però, that was due to large amounts of selling, which caused the world’s oldest cryptocurrency to dump 20% within 24 ore.

Leggi di più: Bitcoin Whales Kept Accumulating During Monday’s Crash

“Bitcoin peaked at $42,000 immediately before a weekend,” said David Russell, vice president of market intelligence at trading technology firm TradeStation. “Volume dries up when institutional investors are away and other markets are closed. That left bitcoin hanging out in the middle of thin air, with no buyers to support it.”

In the bitcoin options market, traders seem to like their chances of a $30,000 price per 1 BTC at Jan. 21 expiration. The probabilities based on the market have a 62% chance of bitcoin over $30,000 by that date, un 55% chance of $32,000 and a 47% expect the world’s oldest cryptocurrency to be $34,000 closer to the end of the month.

Probability of bitcoin spot price based on the options market at Jan. 21 expiration.
fonte: Storto

“Bitcoin is a volatile asset,” said TradeStation’s Russell. “You cannot expect anything to double in a few weeks and not pull back.”

Leggi di più: As Bitcoin Regains, Options Traders Bet on $52K Move by Late January

Michael Gord, chief executive officer of trading firm Global Digital Asset, said he expects institutions to continue scooping up bitcoin, which might help support the asset at a $30,000 price point and above. “I think we’re going to see a huge resurgence as big brands start to collateralize their treasury on the blockchain.” he said.

Bets are being placed on potential ether FOMO

Etere (ETH), la seconda più grande criptovaluta per capitalizzazione di mercato, era su martedì, commercio in giro $1,085 e arrampicata 6% in 24 ore a partire da 21:00 UTC (4:00 p.m. E).

On Monday, the amount of premium traded on Deribit’s ether options market heavily favored calls, which give owners the right, but not not the obligation, to buy an asset at a particular price. Ether’s all-time spot price high sits at $1,448, secondo CoinDesk 20 dati.

Premiums traded on Deribit’s ether options market Monday.
fonte: Genesis Volatility

While the ether options market heavily favors strikes below the $800 spot ETH price point, 68% of call premiums paid Monday are apparently from traders looking to hedge out any risk of another parabolic rise in ether, according to data aggregator Genesis Volatility’s Tuesday investor note.

“Option traders are willing to pay up much more for ETH upside option exposure than they are for downside exposure,” Genesis wrote. “This activity indicates traders see an asymmetry in price action volatility, also known as ‘crash up risk’ and FOMO sentiment.”

Altri mercati

Risorse digitali su CoinDesk 20 are all green Tuesday. Vincitori notevoli a partire da 21:00 UTC (4:00 p.m. E):

Leggi di più: UK Treasury Calls for Feedback to Cryptocurrency, Stablecoin Regulation

Materie prime:

  • Il petrolio era in aumento 1.8%. Prezzo al barile di greggio West Texas Intermediate: $53.14.
  • L'oro era nel verde 0.73% e a $1,856 al momento della stampa.


  • I 10 anni degli Stati Uniti. Treasury bond yield fell Tuesday dipping to 1.134 e in rosso 1.3%.

Il CoinDesk 20: Le risorse che contano di più per il mercato


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fonte: Coindesk

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