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Bitcoin, Ethereum Take A Breather While Dogecoin Spike Pushes Crypto Market Cap Above $2.6 Trillion — Analyst Sees BTC Hitting $80K Before Next Halving

Benzinga ·  Mar 28 00:23

Major cryptocurrencies traded mixed on Wednesday evening as Bitcoin's momentum slowed and it experienced a small price correction.

CryptocurrencyGains +/-Price (Recorded 12:00 a.m. EDT)
Bitcoin (CRYPTO: BTC)-1.94%$69,229
Ethereum (CRYPTO: ETH)-3.64%$3,486
Dogecoin (CRYPTO: DOGE)+5.87%$0.19

What Happened: Over $9.4 billion worth of Bitcoin options are scheduled to expire on the Deribit cryptocurrency exchange on March 29. This indicates a potential maximum pain price of $50,000, according to data shared by Unfolded in a March 27 X post.

This Friday 8 AM UTC, 134.9K $BTC are set to expire on Deribit with a notional value of $9.42 billion.

Max pain price $50,000, put/call ratio: 0.83 pic.twitter.com/tST5X8nz6e

— unfolded. (@cryptounfolded) March 27, 2024

The max pain price is the strike price with the most open Bitcoin options...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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