- An analysis said the structure that had been weighing on prices after the large-scale options expiry in the Bitcoin derivatives market is being resolved.
- It was stated that there have often been instances of Bitcoin price normalization after derivatives pressure disappeared.
- He said the macro environment, such as the expansion of U.S. M2 money supply, is favorable to scarce assets like Bitcoin.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
An analysis has emerged that Bitcoin (BTC) has entered a stable phase after large positions in the derivatives market expired.
On the 26th (Korea time), the founder of Glassnode wrote on X (formerly Twitter), "Most of the derivatives hedge volumes that had been pressuring the Bitcoin price in recent weeks have been absorbed," and "As a large options expiry concluded, the structure that had been weighing on the price is being resolved."
He added, "Whenever there was an attempt to rise, technical selling emerged and the price could not increase," and "After derivatives pressure disappears, prices often normalize." He also assessed, "It is positive for the market that spot buying flows in during each correction, strengthening the lows."
He also gave a positive assessment of the macro environment. He said, "U.S. M2 money supply remains in an expansionary phase, and even in real terms liquidity increases are continuing," and emphasized, "As long as fiat currency continues to be issued on a large scale, the environment favorable to scarce assets including Bitcoin is likely to be maintained."
As of 11:40 p.m. that day, Bitcoin was trading at 87,724 dollars, up 0.07% from the previous day.
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