Bitcoin open interest soars to 1-year high as BTC price rallies toward $68K

October 15, 2024 Coin Telegraph

Bitcoin price fell 24%+ the last time this metric turned negative — Will it happen again?

October 11, 2024 Coin Telegraph

Bitcoin derivatives metrics shifted as BTC price fell under $59,000 today. Are lower prices incoming?

Bitcoin (BTC) declined by 5.3% between Oct. 9 and Oct. 10, reaching a three-week low of $58,900. The market correction began after the United States reported higher-than-anticipated consumer inflation data, suggesting traders are concerned that the Federal Reserve has less incentive to continue cutting interest rates in the near future.

The reaction from Bitcoin price reflects investors’ view that there is an increased chance of a recession. The US Bureau of Labor Statistics reported a 0.2% increase in the Consumer Price Index (CPI) for September compared to the prior month, which triggered concerns of 'stagflation' among investors, according to Yahoo News. In this scenario, prices continue to rise despite economic stagnation, a situation that runs contrary to the central bank's objectives of stimulating growth while controlling inflation.

Meanwhile, US jobless claims rose to a 14-month high, according to data released on Oct. 10. Initial filings for unemployment benefits unexpectedly increased, reaching a seasonally adjusted 258,000 by Oct. 5. Although part of the rise can be attributed to a labor strike at Boeing, the broader negative impact on the economy remains a significant concern for policymakers, as reported by CNBC.

BItcoin price faltered at $64K again — Here is why

October 7, 2024 Coin Telegraph

Bitcoin price recovery driven by growing US financial concerns

October 4, 2024 Coin Telegraph

3 reasons why Bitcoin (BTC) struggles to hold $64.5K

September 26, 2024 Coin Telegraph

$8.1B in Bitcoin options expire this month — Do bulls or bears have the upper hand?

September 24, 2024 Coin Telegraph

Bitcoin Price

Will this week’s $8.1 billion Bitcoin options expiry fuel a rally to $70,000 or should traders anticipate a correction?

Bitcoin (BTC) is about to experience its second-largest monthly options expiry of 2024, totaling $8.1 billion in aggregate exposure. The question is: will this be enough to fuel a robust rally toward $70,000, or are the bearish incentives too strong to ignore?

The current Macroeconomic environment favors risk-on assets, including Bitcoin and the Sept. 27 options expiry will be a pivotal event. The neutral-to-bullish options holders are well-positioned to capitalize if Bitcoin stays above $63,000. However, bears have enough motivation to curb this advantage by pushing Bitcoin’s price below $60,000. Thus, analyzing the options market's positioning and the potential net impact of the monthly expiry is crucial.

On Sept. 24, the Chinese stock market surged following the People's Bank of China’s (PBOC) announcement of plans to lower borrowing costs and inject liquidity into the economy, including reduced mortgage repayment programs. Additionally, the PBOC pledged $113.8 billion to support the stock market, including measures for share purchases and buybacks. Lynn Song, chief economist for Greater China at ING, commented, “There is still room for further easing in the months ahead,” according to Yahoo Finance.