Bitcoin
BTC$37 974.79

2.65%

Ethereum
ETH$2 055.28

2.12%

Tether
USDT$1.000205

0.02%

Binance Coin
BNB$230.20

1.89%

XRP
XRP$0.611671

2.00%

Solana
SOL$58.20

6.66%

Bitcoin bulls control Friday's $1.7B monthly options expiry


30 Jul 2021

#Bitcoin

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.

Bulls are in complete control

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.

July future contracts also exert some influence

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.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 93.2% 7 $37 974.79 2.65% 3.21% $742 620 081 767 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76.8% 50 $2 055.28 2.12% 3.49% $247 134 847 899 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000205 0.02% -0.01% $88 917 133 121 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82.4% 27 $230.20 1.89% -4.06% $34 920 472 818 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 78% 42 $0.611671 2.00% 2.53% $32 918 272 630 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 58% 87 $58.20 6.66% 8.25% $24 645 476 442 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999716 -0.02% -0.02% $24 482 991 365 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 68% 62 $0.385539 3.00% 4.21% $13 608 842 925 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74.4% 48 $0.080387 3.60% 7.77% $11 416 474 493 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 86% 27 $0.103195 0.78% 6.00% $9 138 361 208 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 80.4% 30 $0.103028 0.42% 5.47% $9 123 536 549 WTRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 83.2% 31 $2.42 -0.45% 3.16% $8 314 438 840 TON 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 68% 69 $14.57 3.63% 4.11% $8 113 407 755 LINK 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 86 $20.64 2.41% 0.41% $7 534 681 892 AVAX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

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.