Bitcoin Sees +55% Surge, 36,000 BTC Set for Options Expiry

• Bitcoin surged +55%, breaking out of a smaller, broadening wedge.
• Trader Mags suggests a mid-term target at the upper trendline resistance of a larger broadening wedge.
• Greeks.live notes a critical option expiry with 36,000 BTC options, indicating a Put Call Ratio of 0.9.

In a recent tweet, crypto trader Mags shared the recent surge in Bitcoin’s price. The trader shared the breakout of BTC from a smaller broadening wedge, sharing that the coin has experienced a remarkable +55% surge. Mags suggests a mid-term target is the upper trendline resistance of a larger broadening wedge.

Options traders’ toolkit platform Greeks.live has recently provided critical insights into the imminent option expiry. Greeks.live tweeted that with 36,000 BTC options set to expire, the Put Call Ratio stands at 0.9.

The Max Pain point is noted at $45,000, with a notional value totaling $1.68 billion. Additionally, 262,000 ETH options are due to expire, revealing a Put Call Ratio of 0.64 and a Max Pain point of $2,400, carrying a notional value of $680 million.

The tweet suggests that the Bitcoin Spot ETF has successfully passed this week’s developments. However, the market has…

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