Bitcoin's surge above $40,000 boosted the bulls' advantage in this month's $1.7 billion options expiry. On Friday, July 30, a total of 42,850 Bitcoin (BTC) option contracts ($1.7 billion) are set to expire. This might be the first time since the May 21 weekly expiry that bulls will be able to profit from the $40,000 call (buy) options. The most recent surge in price may have been prompted by the rumor that Amazon would accept crypto payments, but after the e-commerce giant denied these rumors, BTC has held relatively steady.
According to options markets, regardless of the reason behind the recent market strength, a few incentives are in place for bulls to sustain the $40,000 level.
While the initial analysis favors the neutral-to-bullish call options by 21% according to the call-to-put ratio, a decent number of those bets were placed at $45,000 and higher strikes. These options are almost worthless with less than 14 hours until maturity.
Bears were overconfident for the monthly expiry and 87% of the neutral-to-bearish put options have been placed at $39,000 or lower. If bears are to suppress the price below this level on July 30, a total of $105 million put options will be available.
Meanwhile, the neutral-to-bullish call options below $39,000 amount to $320 million. The net result is a $215 million advantage favoring the neutral-to-bullish call options.
Sustaining the price above $40,000 on July 30 would increase the bulls' lead by $140 million. This difference seems enough to justify a price push above that level, at least until 8:00 am UTC when Deribit expiry takes place.
Bitcoin futures expiries occur simultaneously, but unlike options, longs and shorts are evenly matched at all times. An aggregate of $650 million in BTC futures is set to expire this Friday, but this will largely depend on the CME's $455 million because traders might close their position before the expiry, which happens on Friday at 3:00 pm UTC. At the moment, the options market data largely favors bulls, at least for the short-term.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 93.2% | 3 | $26 539.58 | 0.22% | -1.21% | $514 773 771 706 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ![]() |
Ethereum predictions | 92.4% | 1 | $1 847.56 | -0.16% | -1.16% | $222 133 564 682 | ||
3 | ![]() |
Tether predictions | 94.4% | 1 | $1.000062 | 0% | 0% | $83 306 602 583 | ||
4 | ![]() |
Binance Coin predictions | 91.6% | 11 | $264.19 | 1.25% | -13.34% | $41 175 498 687 | ||
5 | ![]() |
USD Coin predictions | 91.2% | 1 | $0.999985 | 0% | 0.01% | $28 437 654 968 | ||
6 | ![]() |
XRP predictions | 73.2% | 56 | $0.523669 | 1.11% | 3.13% | $27 223 990 249 | ||
7 | ![]() |
Cardano predictions | 88.8% | 7 | $0.322679 | -0.39% | -11.70% | $11 261 859 319 | ||
8 | ![]() |
Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
9 | ![]() |
Dogecoin predictions | 88.8% | 8 | $0.068079 | 0.53% | -5.19% | $9 509 676 495 | ||
10 | ![]() |
Wrapped TRON predictions | 73.6% | 51 | $0.077543 | 0.40% | 3.13% | $7 884 249 276 | ||
11 | ![]() |
Solana predictions | 89.6% | 16 | $18.82 | -0.96% | -8.96% | $7 494 116 882 | ||
12 | ![]() |
Polygon predictions | 85.6% | 16 | $0.779218 | 0.92% | -12.65% | $7 238 518 403 | ||
13 | ![]() |
TRON predictions | 75.2% | 49 | $0.077670 | 0.49% | 3.35% | $7 001 289 051 | ||
14 | ![]() |
Litecoin predictions | 78.4% | 38 | $88.53 | -0.30% | -6.71% | $6 471 691 326 | ||
15 | ![]() |
Polkadot predictions | 90% | 6 | $5.03 | -0.34% | -3.75% | $5 995 257 653 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.