CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!
$180M Satoshi-Era Bitcoin Moved Amid Record Options Expiry: Volatility Ahead?
Table of Contents
Market Musing-g

$180M Satoshi-Era Bitcoin Moved Amid Record Options Expiry: Volatility Ahead?

Thecoinrepublic.com
By Thecoinrepublic.com
Created 1 month ago, last updated 1 month ago
3 mins read
$180M Satoshi-Era Bitcoin Moved Amid Record Options Expiry: Volatility Ahead?

A Bitcoin wallet untouched since 2010 just sprang to life. That Satoshi-era wallet moved 2,000 BTC—now worth $180 million—to Coinbase. That comes as nearly $4 billion in Bitcoin and Ethereum options near expiry, raising concerns about market turbulence.

On November 15, Lookonchain reported the transfer of 2,000 BTC from a dormant wallet. These coins were mined in 2010 when Bitcoin traded at under $0.10. Today, each coin is worth over $90,000, marking a 900,000x return.

Movements of dormant wallets from BTC’s early days are rare. When they happen, they draw significant attention. Earlier this year, a wallet from 2009 moved 250 BTC, and in May, another dormant wallet shifted 1,000 BTC after 11 years. Such events often raise questions about selling pressure or hidden motives.

$4 Billion in Options Expiry Looms on Bitcoin

Adding to the drama is a record options expiry. On November 17, $3.4 billion in Bitcoin options and $581 million in Ethereum (ETH) options are set to expire. These expirations often spark volatility as traders adjust their positions.

The Bitcoin options market shows a maximum pain price of $79,500. It is the level where most contracts will expire worthless. For Ethereum, the maximum pain price stands at $3,000.

The put-to-call ratio for Bitcoin is 0.85, signaling bullish sentiment. Ethereum’s ratio is slightly higher at 0.92, reflecting cautious optimism.

The timing of the wallet movement and the options expiry is no coincidence. Large BTC transfers to exchanges often signal upcoming sales. Combined with the options expiry, it could add selling pressure.

Still, the market remains resilient. When writing, Bitcoin is trading above $91,000, pushing its market cap to $1.82 trillion. Institutional interest is growing, with more investment advisors increasing Bitcoin allocations.

A Bullish Long-Term Outlook

Despite short-term risks, BTC’s long-term story remains compelling. Early holders moving coins remind us how far Bitcoin has come—from its humble 2010 beginnings to its status as a trillion-dollar asset.

While traders brace for short-term swings, the momentum suggests bigger moves ahead. As institutional adoption rises and Bitcoin ETFs gain traction, the $100,000 milestone looks increasingly achievable.

0 likes
|

Other articles published on Nov 18, 2024

Market Musing-g

Elon Musk’s Audio Recording on Bitcoin and Dogecoin Revealed

An audio recording allegedly belonging to Elon Musk, one of the richest people in the world, has emerged. Here are the details. Continue Reading: Elon Musk’s Audio Recording on Bitcoin and Dogecoin...
By Bitcoin Sistemi EN
1 month ago
2 mins read
Market Musing-g

Suiruto ($SHIN): A Naruto-Inspired Treasure in the SUI Ecosystem

Suiruto ($SHIN): A Naruto-Inspired Treasure in the SUI Ecosystem The post Suiruto ($SHIN): A Naruto-Inspired Treasure in the SUI Ecosystem appeared first on TheCoinrise.com.
By TheCoinrise Media
2 months ago
3 mins read
Market Musing-g

XRP Hits 2021 High on Google Trends as Price Cannot Stop Growing

XRP reaches 2021 high in Google Trends amid unstoppable price growth
By U_Today
1 month ago
2 mins read
Market Musing-g

Binance Pool Unveils Merged Mining for Fractal Bitcoin

Binance has initiated a new function on its Binance Pool, which allows users to mine Fractal Bitcoin (FB) alongside Bitcoin (BTC) through merged mining. This feature came into effect on November 18...
By TheNewsCrypto
1 month ago
3 mins read
Market Musing-g

Best Altcoin Presale Opportunities To Watch in 2024

Exploring the best altcoin presale can potentially help investors in making substantial returns due to a competitive advantage in the market. The post Best Altcoin Presale Opportunities To Watch in...
By TheCoinrise Media
2 months ago
22 mins read
Market Musing-g

XRP Soars to Record Levels Amid $2 Billion Futures Surge

Open interest for XRP futures tied to the U.S. dollar has exploded to unprecedented levels, reaching over two billion tokens amid significant price increases. As of Saturday, the cryptocurrency’s v...
By TNYR
1 month ago
5 mins read

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!