đ„ Bitcoin and Ethereum in Decline: What is Behind the New Crypto Scare?
Bitcoin fell below $114,500 and Ethereum lost more than 6%, reaching $3,600 in the last 24 hours, signaling a new moment of tension in the crypto market.
Despite a slight recovery â BTC hovering around $115K and ETH at $3,600 â profit-taking signals persist, suggesting that the downward movement is not over yet.
One of the main pressure factors is the expiration of over $7 billion in options this Friday.
In the case of Bitcoin, 48,000 options (equivalent to $5.72B) expire with a put-call ratio of 0.74 and a 'max pain' of $116,000 â above the current price, indicating possible liquidation.
Ethereum faces an even more pessimistic scenario: 350,000 options ($1.35B) expire with a put-call ratio of 0.97 and max pain of $3,500, below the market.
On the macro level, inflation data above expectations reduced the chances of a rate cut by the Fed in September, which strengthens the dollar and pressures risk assets.
Additionally, historical whales are selling, such as Willy Woo and an address from the Satoshi era. Analysts, like Michael van de Poppe, point out that the moment to accumulate BTC may come between $110K and $112K.