Analysis: BTC is currently maintaining above $110,000, and an upward momentum may be about to emerge.

Odaily News As August comes to a close, the mild pullback in Bitcoin may also be nearing its end. Bitcoin has fallen about 4% this month, down 12% from its historic high of $124,500, and is currently hovering around $110,580. Encouragingly, August's performance has been better than the past three years, and with the holiday season ending, trading activity in September should pick up. The options market points to a "max pain" level of $116,000, which refers to the strike price at which the maximum number of options expire worthless, typically causing the greatest financial pain to option holders while providing the greatest profit to option sellers. Given that this level is above the current Bitcoin spot price, it suggests that there may be upward potential ahead. (CoinDesk)

BTC2.39%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)