$3.82 Billion in Bitcoin Options Expire Ahead of Powell’s Jackson Hole Speech
Bitcoin and the crypto market are experiencing volatility ahead of options expiry and Jerome Powell's Jackson Hole speech.
- $3.82 billion in Bitcoin options expired, with BTC testing intraday lows of $112,047.
- Investors are reportedly shifting from Bitcoin to ETH.
- Bitcoin options data shows a bearish sentiment, with a put-to-call ratio (PCR) at 1.30.
- The max pain level is at $118,000, above Bitcoin’s current price of $113,019.
- Upcoming Bitcoin options expiries remain put-heavy, indicating short-term skepticism.
- Analysts expect ±2.0% market movement around Powell’s speech.
- Downside volatility is more likely if Powell's tone is balanced rather than dovish.
- Expectations for a September rate cut have decreased to 70% amid inflationary concerns.
- Market participants are focused on future interest rates and liquidity conditions following the symposium.
Powell's speech is scheduled for August 22; traders appear hedged for potential volatility or stability.