Bitcoin rose to 18,000 today before options expire, Is a Bull rally coming?

Shaking off the remnants of yesterday’s sluggishness, Bitcoin (BTC) has burst back to life with a remarkable 3% surge today. The sudden revival is being linked to the ongoing rollercoaster ride of market emotions, all while a major event loomed on the horizon: the expiration of 18,000 Bitcoin options.

Bitcoin’s (BTC) recent price surge has captivated investors, following a tumultuous trading period leading up to today’s options expiration. With 18,000 Bitcoin options set to expire, the market is abuzz with anticipation. Luckily, the experts at are here to offer their expert analysis on the current options data.

Brace yourselves for potential market shifts as the Put Call Ratio sits at a tantalizing 0.64, the Maxpain point is set at a whopping $62,000, and the notional value skyrockets to an impressive $1.2 billion. And that’s not all, as the highly sought after Bitcoin gains attention, all eyes are on Ethereum (ETH) with a massive 280,000 ETH options expiring today.

As the week draws to a close, all eyes are on Bitcoin (BTC) as traders eagerly await its weekly chart on May 12. With bated breath, they scour for any signs that may signal the end of the recent downward spiral.

Excitement is brewing among Bitcoin (BTC) traders as they spot a promising “bullish candle hammer” on the weekly price chart, hinting at a possible turnaround after a month of decline.

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“Bitcoin still looks like it is about to BLOW higher,” exclaimed Jan Hapel and Yana Alleman, the visionary leaders of market intelligence powerhouse Glassnode. Their electrifying update on their joint X account, “Negentropic,” on May 9th left readers on the edge of their seats.

As the sun set on May 5th, the Bitcoin (BTC) price chart revealed a promising sight – a bullish hammer. Its small body sat atop a long, thin line, known as a “wick,” signaling a potential surge in value. And as of this moment, Bitcoin (BTC) stands tall, up by 3.59%, trading at a whopping $63,248.68 and boasting a total market cap of $1.24 trillion.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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