Эксперт предостерегает об изменениях в биткоине на фоне рекордов открытого интереса Translation: Expert warns of changes in bitcoin amid record open interest

The open interest in options for the leading cryptocurrency has reached unprecedented levels. Timothy Misir, head of research at BRN, has warned about a potential increase in volatility, as reported by The Block.

At the time of writing, Bitcoin is trading at approximately $109,400, «testing investors’ patience» below the purchase price of short-term market participants, the expert noted. He indicated an intraday range between $109,500 and $107,200.

According to Misir, the options market has taken center stage. Open interest has hit an all-time high, and dealers are experiencing heightened demand for put options.

The analyst cautioned that this situation compels major players to constantly adjust their positions, which could lead to sharp price fluctuations even with minor market movements.

The digital gold has failed to surpass the $113,000 mark several times, triggering sell-offs from «weak hands.» If the price drops below $108,000, it could initiate a more significant correction down to $104,500, and potentially to $97,000 in the long term.

Investor sentiment has already reflected mixed emotions on Wall Street, emphasized Misir. In the latest trading session, bitcoin ETFs lost $101 million.

Furthermore, $18.7 million was withdrawn from Ethereum-based instruments.

Experts at QCP Capital also highlighted that the ongoing U.S. government shutdown, now in its third week, has negatively impacted the market. As a result, the release of several key economic data points, including the Consumer Price Index, has been postponed. This data is expected on October 29.

Specialists believe that a reading of 0.2% will support the upward momentum of the leading cryptocurrency.

To recall, Jeffrey Kendrick, head of digital asset research at Standard Chartered, forecasted that Bitcoin could drop to $100,000.