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<p>The post <a href="https://coinpedia.org/news/bitcoin-bounces-back-analyst-predicts-new-ath-after-2-5-billion-options-expiry/">Bitcoin Bounces Back: Analyst Predicts New ATH After $2.5 Billion Options Expiry</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin experienced its largest price drop of the year on Monday, falling 30% amidst a global market downturn. This decline was triggered due to the <a href="https://coinpedia.org/news/is-japans-economic-shake-up-the-key-to-the-next-big-crypto-surge-heres-whats-happening/">economic policy changes in Japan</a>, which triggered the market sell-off, leading to significant losses across various assets.</p> 
<p>Here’s everything you should know! </p> 
<h2 class="wp-block-heading" id="h-grabbing-eyeballs-around-the-world">Grabbing Eyeballs Around the World </h2> 
<p>Despite this major drop, Bitcoin has made a sharp recovery, attracting attention from both crypto enthusiasts and analysts. Michael van de Poppe, a well-known analyst, suggests that Bitcoin is undergoing a<a href="https://markets.coinpedia.org/bitcoin/"> “V-Shape recovery,” </a>which means a quick and strong rebound after a big fall.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> did provide a V-Shape recovery, through which this correction and crash due to Jump Trading selling crypto assets is comparable to COVID-19 –&gt; A Black Swan.<br><br>As long as Bitcoin holds above $57,500, I think we're in for a new ATH in September/October. <a href="https://t.co/9evOPEa3RB">pic.twitter.com/9evOPEa3RB</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1821856447887765564?ref_src=twsrc%5Etfw">August 9, 2024</a>
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<p>Currently, Bitcoin is trading positively at around $60,427, showing a 5.27% increase and a market cap of $1.19 trillion. Van de Poppe’s analysis of Bitcoin’s swift recovery is notable, drawing parallels to past market events like the COVID-19 pandemic’s “Black Swan” moment. This comparison highlights Bitcoin’s resilience and potential for future growth.</p> 
<h2 class="wp-block-heading" id="h-future-predictions-for-bitcoin">Future Predictions for Bitcoin</h2> 
<p>Van de Poppe predicts that Bitcoin could reach a new all-time high (ATH) by September or October, as long as it stays above $57,500. This forecast suggests that Bitcoin’s fundamental strength is still strong, pointing to potential growth opportunities for investors soon.</p> 
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   <p lang="en" dir="ltr">Aug. 9 Options Data<br>32,000 BTC options are about to expire with a Put Call Ratio of 0.71, a Maxpain point of $60,000 and a notional value of $1.9 billion.<br>206,000 ETH options are about to expire with a Put Call Ratio of 0.96, Maxpain point of $2,950 and notional value of $560… <a href="https://t.co/soKryrB4Hw">pic.twitter.com/soKryrB4Hw</a></p>— Greeks.live (@GreeksLive) <a href="https://twitter.com/GreeksLive/status/1821762948806889719?ref_src=twsrc%5Etfw">August 9, 2024</a>
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<p>On Friday, August 9, about 32,000 Bitcoin options contracts, worth around $1.9 billion, will expire. This expiration is expected to have a smaller impact on spot markets compared to the previous week. The put/call ratio of 0.71 shows that more call contracts are expiring than puts, with the max pain point at $60,000.</p> 
<p>In addition, 206,000 Ethereum options contracts, valued at $560 million, will also expire. These Ethereum options have a put/call ratio of 0.96 and a max pain point of $2,950, which is significantly higher than current spot prices.</p> 
<p>The total value of these expiring crypto options is $2.5 billion, contributing to increased market volatility.</p> 
<p><strong>Bitcoin’s roller coaster continues, with analysts betting on a bullish future. Will it reach new heights or face another drop? Only time will tell.</strong></p>

Bitcoin Bounces Back: Analyst Predicts New ATH After $2.5 Billion Options Expiry

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