BTC options open interest hits all-time high

CN
2 years ago

BTC options holdings hit a record high, with surges in holdings occurring on 3/30, 4/17, and 6/29, corresponding to turning points in three market cycles. Currently, the bullish sentiment for BTC options is as high as an astonishing 68%, indicating that 70% of people are optimistic about the future market.

In 2022, El Salvador announced that it will purchase 1 BTC every day. Currently, El Salvador holds BTC worth $100 million, with a floating loss of 8% for the year. It has to be said that El Salvador still has foresight, holding all BTC. If they were to hold "copycat coins" like FTT, they would probably have to apply for bankruptcy like Temasek Holdings.

The US CFTC has stated that it will fully investigate digital asset platforms. After Binance paid up, it seems they have tasted the sweetness, and the US is now focusing on other platforms. No one can escape.

BTC:

BTC rebounded along the 5-day moving average and is still in an upward trend. The hourly chart has seen multiple retracements, confirming resistance pressure. The key level above is $37,588, and BTC needs to stabilize above this level to establish a strong base and further push higher. Next, BTC is expected to surge and then retrace at $37,588.

Resistance levels: $37,588, $38,034, $38,456

Support levels: $36,895, $36,446, $36,012

ETH:

The increase in on-chain active addresses has had a positive impact on ETH's outlook. ETH rebounded along the 5-day moving average, accompanied by weakening bullish volume, entering a converging triangle pattern. The key resistance level above is $2,082.6. Only with a rapid surge and a breakthrough of $2,082.6 can the oscillating situation be broken. Next, ETH is expected to spike and then retrace at $2,082.6.

Resistance levels: $2,082.6, $2,105.4, $2,132.6

Support levels: $2,034.5, $1,994.3, $1,956.5

BLUR opens its second season for application. The new project BLAST, launched by the original founder of BLUR, is gaining momentum. There will be a huge options expiration at 4 p.m. today. Pay attention to the market fluctuations at night. Have a great weekend, and see you next week.

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