A Correction Hits Bitcoin As It Falls Below 93,000 Dollars
Bitcoin has recently displayed impressive resilience despite the expiration of $14.2 billion in options in December 2024. However, a significant correction followed, causing BTC to drop to $93,000! 2025 looks ultimately risky for the crypto industry.
Bitcoin Faces the Expiration of December 2024 Options
The price of BTC had recently shown remarkable resilience despite the expiration of December 2024 options, which threatened a significant correction below $85,000. On December 27, over $14.2 billion in Bitcoin options expired at 8:00 AM UTC, with a “max pain” point at $85,000, indicating the price at which most options contracts would expire worthless.
Despite this critical deadline, Bitcoin reached a high of $97,330 an hour after the options expiration. Bitcoin ETFs in the United States played a crucial role in this dynamic. The day after Christmas, these ETFs recorded positive net inflows of over $475 million, contributing to stabilize the price of BTC after the expiration of these options.
A Victory Celebrated Too Soon?
This performance of BTC surprised many analysts who expected stronger bearish pressure. They were all optimistic about Bitcoin’s trajectory in 2025, with some predicting a rise up to $160,000! According to them, this achievement of BTC could have propelled it to a local peak above $110,000 in January. However, the correction ultimately took its toll on the first crypto.
For, despite its initial resilience, Bitcoin is currently plummeting to $93,900 and is heading straight toward $85,000, according to forecasts. This drop marks a significant correction, highlighting the persistent volatility of the crypto market. Investors must remain vigilant in the face of these unpredictable fluctuations.
In summary, despite an impressive initial resilience, Bitcoin has succumbed to the pressure of the expiration of options, falling to $93,900. This correction underlines the ongoing volatility in the crypto market, reminding investors to stay alert to future developments in the sector.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.