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What is the significance of September 24 for Bitcoin and Ethereum before the end of the 3rd quarter of 2021? In the last ten days, in the third quarter of 2021, the financial sector has been collectively going through a turbulent period. The crypto world, including Bitcoin, is also trying to find its way. There is an air of uncertainty at the moment, with fiyadollarsar failing to break the sudden resistance. The answer to this question and more Cryptocoin. com

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In what direction will Bitcoin evolve?

Both Bitcoin and Ethereum managed a price consolidation above the $42,000 and $3,000 immediate supports, but they could be tested soon. With this scenario in mind, both assets are approaching another key expiration on September 24, which could play a role in trend-setting for Q4 2021.

According to data from Skew, 73.7k Bitcoin Options on Open Position on September 24 are about to expire. Its net valuation, approaching $3.2 billion at the time of writing, makes it one of the biggest maturities in 2021.

Relating to Ethereum, the 492k ETH options will expire at a net worth of $1.5 billion at the time of writing. One of the main features currently common among BTC, ETH options is that most of the options are “Call Buys”. This means that more contracts will be voided if higher targets are not met. The effects on a stagnant market can be huge, as target failure could lead to a temporary drop in both Bitcoin and Ethereum prices after expiration. At the moment, Bitcoin Options were still in the green as BTC remained above $44,000 but fell below that range at the time of writing. The price for Ethereum is currently at $3000, which is a huge setback for most contracts that strike on Sept. 24 (which is the price to apply to buy or sell options) around $3300-3400.

More volatility?

At the time of writing, there was some margin of tolerance/refuge to take refuge in the existing accumulation between Implied and Actual Volatility. Implied, Realized continues to outpace volatility, while essential trader sentiment shows there is still room for more price action on the charts. There is slight bearishness given the fact that the price has dropped along with the volatility structure. But Realized Volatility hit a low that triggered a bullish rebound twice in the past. Once in January 2021 and then again in April 2021. Considering that Bitcoin retested support at $42,000 and Ethereum dropped below $3,000, the growth margin will be high for Bitcoin entering Q4 of 2021. However, a continued decline in Actual and Implied Volatility will slow the bullish momentum.


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Michael Lewis

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