Bitcoin’s $78,000 Options Level Does Not Establish Spot Support
Photo: TokenPost
Bitcoin (BTC) options expiring Oct. 30 had a $78,000 maximum-pain level in an Oct. 22 snapshot, while Binance’s largest recorded bid block was near $80,000, and neither reading confirms spot support. Deribit’s BTC index was $80,850.63 at 10:36:10 p.m. ET Oct. 23 (02:36:10 UTC Oct. 24). In the earlier snapshot, taken at 8:49 p.m. ET Oct. 22 (00:49 UTC Oct. 23), BTC spot was $81,424. The readings come from different times and describe separate parts of the market. The Oct. 30 expiry represented $11.1 billion, or 34.6% of Deribit’s Bitcoin options open interest. Its put/call open-interest ratio was 0.56.
Source: TokenPost
