The cryptocurrency market is experiencing increased volatility amid geopolitical tensions and macroeconomic events. Traders are preparing for options expiry, which may impact future prices.
Market Volatility Overview
Bitcoin and Ethereum prices have fallen by over 2% in the last 24 hours, while gold prices have risen amid increasing volatility in global markets. New unilateral tariff plans from President Donald Trump have also pressured the markets and weakened the US dollar.
Expiration of Bitcoin and Ethereum Options
On Friday, 28K BTC options with a notional value of more than $3 billion are set to expire on Deribit. At the time of writing, the put-call ratio was 0.95, indicating a slightly bearish sentiment among traders. The max pain point is at $107,000, suggesting a high chance of further retracement in BTC price.
Analysts' Predictions for Bitcoin and Ethereum
BTC price dropped by 2% in the past 24 hours, trading at $107,023. If it holds above $106,000, upward movement is expected. Analysts, including 10x Research, suggest that Bitcoin is hovering near critical levels, while the Ethereum rally may be losing steam due to headline dominance over fundamentals. Meanwhile, the gold's performance has improved amid rising US-Iran tensions.
The cryptocurrency market remains in a precarious state ahead of options expiry. Traders are monitoring price changes in Bitcoin and Ethereum, anticipating significant movements in the coming days.
