BTC Sharp Go $118K Before Options Expiry as Bhutan Dey Sell BTC
Bitcoin don jump pass $118,000 and Ethereum small time catch $3,000 back as traders dey ready for big options expiry. Deribit get BTC contracts wey worth $4.3 billion and ETH contracts wey worth $710 million wey go expire today, Bitcoin put/call ratio dey 1.05 (max pain $108,000) and Ethereum dey 1.11 (max pain $2,600). Analytics platform Greeks.Live dey warn of extreme 500× leverage position even though institutional involvement no too much. Meanwhile, Royal Government of Bhutan don sell 100.215 BTC (~$11.83 million) to Binance—part of one year sale of 2,262 BTC at average $88,612—dem still get 11,611 BTC (~$1.37 billion) for their balance sheet. Traders suppose expect say volatility go high as market makers dey hedge position, dey test support level for short term inside bullish long term trend.
Neutral
The options expiry wey dey worth $4.3 billion for BTC and $710 million for ETH, plus high put/call ratios, dey show say short-term bearish pressure dey and price fit move sharply for important pain points. Di Royal Government of Bhutan small sale of 100 BTC dey add small supply pressure but e no go fit really shake market well well. Top 500× leverage positions dey increase wahala for volatility risk as market makers dey hedge their side. Traders suppose prepare for fast movements within day and possible pullbacks to support levels, but underlying bullish momentum and institutional caution dey point to neutral overall gbege for Bitcoin price medium term.