Bitcoin News
By Jean-Luc Maracon
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Options Traders Aren't Buying the Euphoria. On Deribit, put options are still priced above calls.
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What Thin Holiday Liquidity Actually Means Here. US equity markets are closed for Independence Day. That sounds minor, but it's not.
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The Setup Heading Into Sunday Night. The jobs report gave Bitcoin a genuine lift. Weaker growth data, a softer dollar, and fading rate…
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Bitcoin punched through $62,000 Friday after a lousy US jobs report took a lot of pressure off the Federal Reserve rate hike narrative. But don't get too excited yet.
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The Bureau of Labor Statistics dropped June payroll numbers that came in at just 57,000 — roughly half the 110,000 economists had penciled in.
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The relief rally is real. The conviction behind it, not so much.
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On Deribit, put options are still priced above calls. The one-week 25-delta put-call skew dropped from 25% to around 16% — so the panic has cooled, but traders are still paying a…
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And there's a specific options structure making things more complicated. Data from Laevitas on July 17 flagged a large Bitcoin position built as a long call-option condor.
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So $66,000 to $68,000 is the range to watch. Below that, $60,000 is the support line that matters.
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US equity markets are closed for Independence Day. That sounds minor, but it's not. Wall Street being offline strips out a lot of the usual cross-asset signals — ETF volume,…
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Read also: Irelands CAB Seizes 500 Bitcoin Worth $31 Million from Cannabis Dealers 12-Wallet Network
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If Bitcoin holds above $62,000 through the weekend, the path toward $66,000 opens up. That would probably please the condor traders who need prices to drift into that zone.
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The downside scenarios are worth keeping in mind too. A rejection near $66,000 would basically confirm what the elevated put skew was warning about before the jobs report hit.
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Stop orders are a factor here. If prices dip hard enough to trigger clustered stops below $60,000, it won't be a slow grind lower — it'll be quick.
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The jobs report gave Bitcoin a genuine lift. Weaker growth data, a softer dollar, and fading rate hike odds are all tailwinds that crypto markets respond to.
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