Nothing about life in even the near future is mathematically certain — but absent some other monumental shift in the existing macro-catalysts, the ratio of puts-to-calls at various strike prices, both in- and out- of the money, would suggest that the spot price for Bitcoin will fall about $2,000 to $3,000 — by next Friday, early morning US time.
Here’s that story — and a bit of it:
…The put/call ratio of 0.86 reflects a modestly bullish market, though with max pain sitting $2,000 below the current price, a gravitational pull toward $75,000 remains a real risk heading into May 29 settlement…
Tim Sun, senior researcher at HashKey Group, told CoinDesk “The bigger problem, is macro: investors are de-risking as long-term yields rise, oil and inflation risks remain in focus, and there is currently no compelling reason for new capital to enter the market.”…
Hilarious.
And all of this coincides with Mark Cuban admitting he has sold off almost all of his Bitcoin stack (mostly, in the lower ranges of this downturn), now that the supposed “Bitcoin as a hedge against traditional finance excesses” narrative… has been proven to be a lie.
Look out below, in seven days. Or sooner.
नमस्ते
Powerline Lies... 