Derivatives and Bitcoin options data suggest bulls could attempt to push BTC price to $18,000. noshitcoins explains why.
and warned that the S&P 500 index is vulnerable to a 23% drop to 3,000. Wilson added:"Even though a majority of institutional clients think we're probably going to be in a recession, they don't seem to be afraid of it. That's just a big disconnect."The open interest for the Jan. 13 options expiry is $275 million, but the actual figure will be lower since bears were expecting prices below $16,500.
For example, a trader could have sold a put option, effectively gaining positive exposure to Bitcoin above a specific price, but unfortunately, there's no easy way to estimate this effect.Bitcoin bears need to push the price below $16,500 on Friday to secure a potential $40 million profit. On the other hand, the bulls can boost their gains by slightly pushing the price above $17,500 to profit by $75 million.
Considering the uncertainty from the upcoming CPI inflation data, all bets are on the table, but bulls have decent incentives to try pushing Bitcoin price above $17,500 on Jan. 13.
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