Q2 2025 has been favorable for Bitcoin. Since April 1, the market leader has risen by 30.2%, thanks to a 14.2% increase in April, 11.1% in May, and a further 2.6% so far in June. The rally has pushed the price from 104,544 USD at the beginning of the month to around 107,370 USD today, with a new high near 107 K.
Time Change April 2025 +14.2% May 2025 +11.1% June so far +2.6% Q2 so far +30.2%
Today's Cryptocurrency Market
Spot price dropped overnight on Thursday. A slow downward trend towards 102 K suggests that option sellers are driving the market.
Liquidity at 105 K. A gap in buy orders below that increases the likelihood of a rapid decline.
Recovery after expiration. When 15 billion USD in insurance contracts disappear, a sudden increase or decrease in volatility often occurs.
Deadline of 15 Billion USD This Friday
According to Deribit's Chief Commercial Officer, Jean-David Pequignot, one of the biggest deadlines of the year will occur this Friday. Approximately 15.2 billion USD in BTC options, accounting for 38% of the total 40 billion USD open interest, will be settled at once.
The 'max-pain' level, where the most worthless contracts expire, is at 102,000 USD. Prices often drift towards this level as option sellers will profit the most if Bitcoin is there at expiration.
Sentiment and Volatility Tell an Interwoven Story
Options data still leans toward cautious bullish sentiment:
Put/Call ratio: 0.73, meaning there are 73 puts for every 100 calls—more calls indicate a bullish trend.
Implied volatility: sharply decreased from 50% to 38%, suggesting that traders expect prices to be less volatile in the near future.
However, those expectations can change rapidly as billions of USD in contracts expire.
105 K: An Important Boundary
Technical traders are focusing on 105,000 USD. It has been a key support level throughout June:
Holding above 105 K: The bullish market maintains control; a recovery after expiration towards 110 K or higher is still likely.
Break below 105 K: Sentiment can quickly reverse, with prices rushing towards the 102 K area, triggering a wave of stop-loss orders.
Conclusion
Bitcoin's 30% increase this quarter has impressed even the most resilient investors, but the real challenge will come with the massive deadline on Friday. Be cautious, will BTC hold above 105 K or will it fail against the max-pain pull that could shape the market throughout this summer?
Source: https://tintucbitcoin.com/lo-lang-truoc-han-quyen-chon-bitcoin-ethereum/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
