Bitcoin

when

Drops

<p>After hitting the historical $100,000 price mark, Bitcoin’s volatility took center stage today. The world’s largest cryptocurrency shocked traders during Asian trading hours, briefly plunging to close to $90,000 on Binance.&nbsp;</p> 
<p>This unexpected dip happened around 4:30 IST, just a day after BTC <a href="https://www.cryptotimes.io/2024/12/05/bitcoin-surges-past-100000-creates-history/" target="_blank" rel="noreferrer noopener">crossed the elusive $100K mark</a>—a significant milestone that had the crypto community buzzing.</p> 
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  <img decoding="async" width="860" height="425" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/binance-860x425.png" alt="Bitcoin chart on binance" class="wp-image-220938">
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   Source: <a href="https://www.binance.com/en-IN/trade/BTC_USDT?type=spot" target="_blank" rel="noreferrer noopener nofollow">Binance</a>
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<p>Currently priced at $97,877.30, Bitcoin is down 4.75% over the last 24 hours, with a massive trading volume of $132.58 billion (up 21.92%). Market activity highlights the intense battle around the critical $100K level, which continues to act as a strong resistance point.</p> 
<p>The dramatic price movement underscores the influence of market dynamics, particularly on Fridays when Bitcoin options expire. With billions in contracts settled weekly, these expirations often lead to heightened volatility as traders adjust their positions.</p> 
<p>Adding to the turbulence, the plunge reflects the shifting sentiment during Asian trading hours, a time when liquidity can amplify sharp moves. Despite the sell-off, Bitcoin’s market cap remains resilient at $1.94 trillion, showcasing the asset’s enduring strength even amid wild price swings.</p> 
<p>According to Deribit <a href="https://www.deribit.com/statistics/BTC/metrics/options" target="_blank" rel="noreferrer noopener nofollow">data</a>, the total notional value of Bitcoin options set to expire this Friday is nearly $2.3 billion. The data shows Put/Call ratio of 0.71 with traders showing bullish stance by placing over 28,491 BTC in Call options and total of 20,175 BTC in Put options in past 24 hours.</p> 
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  <img decoding="async" width="860" height="332" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/image-2-860x332.png" alt="Bitcoin Call/Put data" class="wp-image-220954">
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   Bitcoin Call/Put options – Deribit 
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<p>The current put/call ratio suggest that there are more traders expecting BTC price to go up than short sellers. The max pain price for today’s expire is $97,000, the price range BTC will likely avoid until U.S. trading session starts. </p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/12/05/bitcoin-becomes-worlds-10th-largest-currency-by-market-cap/" target="_blank" rel="noreferrer noopener">Bitcoin Becomes World’s 10th Largest Currency by Market Cap</a></p> 
</blockquote>

Traders Stunned as Bitcoin Drops to $90,000 on Binance

The Crypto Times

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