Bitcoin Options Expiry Triggers Market Turmoil
- Options Expiry Scale: On January 30, approximately 91,000 Bitcoin options contracts will expire with a notional value of around $8.3 billion, significantly larger than other expirations this month, potentially exacerbating market volatility.
- Market Losses Intensify: The crypto market has lost about $215 billion since the beginning of the week, primarily due to the Federal Reserve maintaining interest rates between 3.5% and 3.75%, well above the 2% target, coupled with renewed geopolitical tensions in the Middle East.
- Put/Call Ratio: This week's Bitcoin options have a put/call ratio of 0.54, indicating more expiring calls than puts, with max pain at $90,000, which is above current spot prices, suggesting many contracts may expire worthless.
- Pessimistic Market Outlook: The crypto market melted down during the Asian trading session, with total capitalization dropping below $3 trillion for the first time since mid-December, indicating a fully underway bear market as Bitcoin plunged 8% to $81,300, its lowest level since April.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 730.675 | 1239.238 | 1697.515 | 2206.078 | 2664.355 | 3172.918 | 3631.195 |
| Fibonacci | 1239.238 | 1608.571 | 1836.745 | 2206.078 | 2575.411 | 2803.585 | 3172.918 |
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