FX.co ★ Death-X-PK | #Bitcoin chart analysis

BTCUSD 4-H Time Frame Update At Thursday's Wall Street opening, Bitcoin BTC $115,058 experienced indicative volatility as interest-rate drop probabilities were reinforced by US macro data. In addition to a significant cooling of the Producer Price Index (PPI) the day before, the August print of the US Consumer Price Index (CPI) was released as anticipated. The main statistic was new jobless claims, which reached their highest numbers since October 2021 at 263,000 versus 235,000 predicted, even though the CPI was at its highest level since January. Following the announcement of the CPI, bets on the Fed lowering rates at its September 17 meeting only grew stronger amid persistent worries about labor market weakness. Markets even saw an 11% chance that the cut would exceed the necessary 0.25%. Following a strong earnings report from Oracle Corporation (ORCL), a significant leader in artificial intelligence infrastructure, Bitcoin (BTC) jumped beyond $114,000 on Thursday, reaching $115,045. Ahead of Friday's $4.3 billion BTC options expiry, the move sent Bitcoin to its highest price in over two weeks, boosting anticipation for more bullish momentum. With $2.35 billion in open interest, put (sell) options predominate this week's expiry, while call (buy) contracts comprise $1.93 billion. However, since the price of Bitcoin recovered from the $107,500 lows that were observed earlier in September, call options have become more advantageous. In a market where cryptocurrency traders are generally positive, the current imbalance favoring put options is uncommon. Less than $125 million in option open interest has been posted at $114,000 or higher on Deribit, suggesting that bearish or neutral bets are ill-positioned. In contrast, if Bitcoin maintains levels over $113,000 until Friday's expiration, call contracts worth over $300 million would be activated. This $175 million call buyer advantage might provide Bitcoin the boost it needs to continue its upward trajectory.