Bitcoin’s $12B Options Expire: Will September Be a Drama or a Farce? 🎭💸

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Darling, the Takeaways Are Simply Divine!

Oh, the BTC traders, ever so cautious, darlings! Ahead of Friday’s Options expiry and macro data, they fluttered like debutantes at a ball. Yet, QCP Capital remains as bullish as a society matron at a champagne brunch. 🥂

Traders, my dears, were clutching their pearls over nearly $12 billion worth of Bitcoin [BTC] Options set to expire on the 29th of August. How très dramatic! 💎💔

In its latest tittle-tattle, Options trading platform Deribit noted that positioning was “put-heavy” near $110K-$115K. Oh, the hedging! The hedging! It’s all so dreadfully serious, isn’t it? 🕶️

“BTC expiry points to persistent demand for downside protection, while ETH looks more neutral. Combined with Powell’s Jackson Hole signal, this expiry may help set the market tone for September.” 🗣️💼

At press time, the Put/Call ratio stood at 0.88 – below 1, darling. Despite the short-term caution, the calls (bullish bets) were still somewhat dominant. Bravo! 👏✨

And the Max Pain level? Oh, it’s at $116K, where most Options expire worthless and benefit sellers. It’s practically a price magnet, isn’t it? 🧲💰

Will the Bulls Defend $110K? Pray Tell!

Below $110K, players hedged against a move to $106K and $108K. And by the 26th of August, BTC briefly touched $108.6K intraday, confirming traders’ hedges in play. How utterly predictable! 🤷‍♂️📉

Interestingly, the $108K was hit a few hours later on the 26th August after a major whale dumped his BTC holdings for Ethereum [ETH]. Oh, the scandal! 🐳🤦‍♀️

Will the Pullback Stretch Below $108K to $106K or Even $100K? Heavens!

Per Glassnode, such a move would dent the bullish market structure in the near term. The analytics firm noted that $110.8K was the Average Cost Basis for holders who scooped the asset in May-July (1-3 month old holders). How frightfully technical! 📊🔍

Historically, the level has acted as a crucial support, but when flipped to resistance, it could signal an extended weakness in the near term, added Glassnode. Oh, the drama of it all! 🎭💔

In fact, during Q1 weakness, BTC fell below this cohort’s cost basis, and price stayed it until late April. How dreadfully tedious! 😴📉

In other words, $110K was a crucial technical and on-chain support ahead of Friday’s Option expiry. Simply indispensable, darling! 🔒💎

Macro Test Ahead: Fasten Your Cufflinks!

The market may face increased volatility this week, driven by key macro data releases. Unemployment claims are due on the 28th of August, followed by Core PCE inflation data on the 29th of August. Oh, the suspense! 📅💣

With a likely Fed rate cut in September, indeed, this week could set the pace for end-Q3 price direction. How très important! 📉✂️

For the crypto trading desk, QCP Capital, the near-term was still bullish for BTC despite the bearish sentiment. How positively unflappable! 🐂💪

“Near term, BTC appears to be ceding momentum to ETH, but our structural view on BTC is unchanged. As in July, when the market absorbed roughly 80,000 BTC of legacy supply, we expect institutions to buy dips selectively.” 🧐📈

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2025-08-26 23:09