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In September, $11B worth of bitcoin options are set to expire, with a heavy concentration of call options at the $140,000 strike price.
For August, the dominant strike price sits at $124,000, IMO acting as a magnet that keeps bitcoin’s price below its all-time high and with a potential move to fill the CME gap down to $117,000.
IV is likely to continue to compress throughout August.
September should be the breakout for both vol. and price.
Agree with @JoeCarlasare, Ethereum taking out $5k, will only push bitcoin higher.