• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Options Market is Losing Confidence in Bitcoin; This Could Spell Trouble for 2020

Cole Petersen by Cole Petersen
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Bitcoin BTC
Advertisement

Bitcoin (BTC) has been able to incur some tempered bullishness today after a multi-day period of hovering around its support at $7,200. Today’s slight gains have come about in the face of a strong down trend, however, which could mean that these gains will ultimately prove to be fleeting and followed by further downside.

One factor that analysts are pointing to as support for the idea that the macro-bear trend is still far from being over is the fact that the options market is losing faith in BTC, which – in combination with other factors – could spell trouble for the crypto in the coming months.

Bitcoin Caught in Trading Range as Analysts Eye Movement to $6,000 

At the time of writing, Bitcoin is trading up just over 1% at its current price of $7,340, which marks a notable climb from its daily lows of just over $7,100 that were set earlier this week when bears attempted to push the crypto below its support at $7,000.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The lower-$7,000 region has been an important support level for the cryptocurrency in the time since it retraced from its late-October highs of $10,600, and the break below this level is what sparked the capitulatory drop to lows of $6,400 earlier this month.

Cantering Clark, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes BTC’s current bout of sideways trading will ultimately result in another drop down to the $6,000 region, as buyers have struggled to move the crypto’s price, signaling that the current selling pressure is aggressive.

“1- Getting involved in mid-range for many is a coinflip, and a sure way to get flatfooted if you don’t have a clear edge. 2- Looks like all positioning metrics I observe along with CVD indicate buyers committing with no results to show for it. Send it back to 6k range,” he explained.

1- Getting involved in mid-range for many is a coinflip, and a sure way to get flatfooted if you don’t have a clear edge.

2- Looks like all positioning metrics I observe along with CVD indicate buyers committing with no results to show for it.

Send it back to 6k range.$BTC

— Cantering Clark (@CanteringClark) December 26, 2019

What Does the Options Market Currently Say About BTC?

Clark further explains in another tweet that the inability for Bitcoin’s bulls to sway the crypto’s price is not the only bearish sign, as the options market is also flashing signs that investors are losing faith in the cryptocurrency, signaling that a capitulatory movement could be imminent.

“Again, with the space maturing $BTC options mkt will be just as important to observe as it is in other markets. Short term 25 Delta RR showing that market is not very confident about the near future. Puts trading more expensively from an IV standpoint. Further out still NEG,” he said while pointing to the chart seen below.

Again, with the space maturing $BTC options mkt will be just as important to observe as it is in other markets.

Short term 25 Delta RR showing that market is not very confident about the near future.

Puts trading more expensively from an IV standpoint.

Further out still NEG. pic.twitter.com/Pi4HnF0GmM

— Cantering Clark (@CanteringClark) December 26, 2019

Although low market sentiment can be a counter indicator, the option market’s lack of confidence in combination with other bearish factors could mean that the first part of the new year will be bearish for BTC and the aggregated crypto markets.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare27
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

How to Maximize Your Yield Farm Gains

How to Maximize Your Yield Farm Gains

12 hours ago
Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

18 hours ago
Fastswap

FastSwap Set for Liquidity Aggregator and Binance Smart Chain Migration

19 hours ago
Bitcoin Sell-Off Resumes Ahead of Key Economic Data; What to Expect?

Bitcoin Sell-Off Resumes Ahead of Key Economic Data; What to Expect?

20 hours ago
bitcoin collateral

Summing Up The Case For Bitcoin As The Future Of Collateral

1 day ago
Algorand, OKEx

OKEx Announces Support for USDT and USDC Stablecoins on the Algorand Blockchain

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.