Tony Kim
Sep 18, 2025 18:10
Bitcoin’s value stays above $115.2k with 95% of its provide worthwhile. Futures and choices markets exhibit file exercise post-FOMC, impacting volatility and liquidity.
Bitcoin’s (BTC) market dynamics have been notably influenced by the latest Federal Open Market Committee (FOMC) assembly, with the cryptocurrency buying and selling above $115.2k, in line with a report by Glassnode. This stage is important because it locations 95% of Bitcoin’s provide in revenue, a notable milestone following the rally spurred by FOMC bulletins.
Futures Market Dynamics
Glassnode’s evaluation reveals that the Bitcoin futures market has skilled a shift from a risk-off stance to a extra balanced place post-FOMC. The perpetual open curiosity peaked at 395,000 BTC, indicating aggressive positioning by merchants, earlier than stabilizing between 378,000 and 384,000 BTC. This stabilization is attributed to the futures market’s central position in supporting the latest rally, with quick squeezes and subsequent lengthy liquidations considerably impacting market liquidity.
Choices Market Insights
The choices market has additionally seen unprecedented exercise, with open curiosity hitting a file 500,000 BTC. The upcoming September 26 expiry is about to be the most important in Bitcoin’s historical past, with vital open curiosity round $95,000 places and $140,000 calls, marking a broad strike distribution. The max ache level is recognized close to $110,000, suggesting this stage may act as a gravitational pull on costs because the expiry approaches.
This heightened exercise within the choices market underscores a complicated method by merchants using complicated methods for hedging and hypothesis. The notable rise in open curiosity forward of the expiry signifies elevated volatility potential, with gamma results more likely to amplify spot value actions.
On-Chain Metrics and Market Sentiment
On the on-chain entrance, Bitcoin continues to commerce above the price foundation of 95% of its provide, a crucial stage for sustaining momentum. Ought to Bitcoin fail to carry above $115.2k, the market dangers a contraction in direction of the $105.5k vary, the place renewed promoting strain may emerge.
The market’s present state displays a fragile stability, with spot market promote strain being counteracted by liquidity in perpetuals. This interaction, mixed with choices market dynamics, suggests a market poised for potential volatility, the place stability above key cost-basis ranges may prolong the upside, whereas fragility in flows maintains draw back dangers.
For extra insights, go to the unique report on Glassnode.
Picture supply: Shutterstock