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$BTC enters the "G hour" with 13.8 billion USD in options expiring on 29/8!
The recent 9.7% correction pulled the price down to $112,100, leaving many traders anxious: is this just a "breather" or a signal of the end of the uptrend?
📉 The bears are pushing hard below $114,000, while the bulls need to pull above $116,000 to flip the script. If it surpasses $118,000 then… bulls will throw a celebration party! 🐂🎉
🔑 The situation is not just in the hands of traders, but also depends on the Fed and tech stock waves. A wink from Jerome Powell about interest rate cuts could "ignite" BTC again.
👉 Scenario according to Deribit:
$105K – $110K → Bears feast on 2.45B 💀
$110K – $114K → Bears profit 1.5B
$114K – $116K → Bears win slightly
$116K – $118K → Bulls profit 460M
$118K – $120K → Bulls "hit the jackpot" 1.1B 🐂💰
⚔️ The battle at $114K is the focal point, while $116K is the "gateway to paradise" for the bulls!
😂 Whether you are with the bulls or the bears, just prepare yourself, and I’ll prepare… popcorn to watch the movie to ease the anxiety.
#Bitcoin #BTCOptions #CryptoBattle #TradingLife #MarketDrama