DeribitCEOLuuk Strijershas pointed to $84,000 as the "max pain" level for Bitcoin ahead of a significant December options expiry, suggesting the market could be pulled down to this level before finding new equilibrium.
Strijers' analysis highlights the unique dynamics of the upcoming quarterly expiry, which accounts for 44% of all outstanding Bitcoin options, making it the largest options expiry this year.
"The max pain level is $84,000, which is the typical indication of where to expect this expiry to end up in normal market circumstances," Strijers told Benzinga about the upcoming Dec. 27 expiry.
He explained that max pain levels, derived...
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