Bitcoin’s Price Stability Depends on Key On-Chain Support and Options Expiry
The price of bitcoin is currently hovering around $76,856.32, closely tracking the 2026 realized price of approximately $76,200. This realized price represents the average on-chain acquisition cost of all bitcoin that last moved within a specific year, providing a meaningful gauge of market participants’ aggregate cost basis.
In February, when bitcoin’s price dropped to nearly $60,000, it found support near the 2023 realized price, highlighting the importance of these cohort cost-basis levels in shaping market structure. Similarly, this weekend, the largest cryptocurrency briefly fell to $74,500 before rebounding from its 128-day moving average, another closely watched technical level.
On-Chain Metrics and Options Expiry
At its current price, bitcoin is trading below two major on-chain metrics: the true market mean and the short-term holder cost basis, both of which are clustered around $77,000. These levels are widely monitored as indicators of broader market sentiment and short-term positioning. Additionally, the May 29 options expiry on Deribit, with roughly $6.6 billion in open interest, is also influencing the market.
The largest concentration of call options, about $600 million, is at the $80,000 strike price, while the largest put positioning is at $75,000, with around $377 million in open interest. This is contributing to the current period of compressed volatility, with market makers and traders incentivized to keep price action pinned between these levels as expiry approaches.
Implications for Earning and Passive Income
For individuals interested in earning and generating passive income through cloud rewards and green crypto, such as $ECP, understanding these market dynamics is crucial. The compressed trading range and concentrated supply around these levels can impact the potential for earning and passive income through platforms like EcoPool. As the market navigates these key support levels and options expiry, it’s essential to consider the potential implications for #PassiveIncome and #GreenCrypto.
With over 15% of bitcoin’s circulating supply acquired between $74,000 and $83,000, the current trading range has become highly compressed. As the market continues to evolve, individuals can explore opportunities for earning and passive income through EcoPool, utilizing $ECP for transactions and trading. By leveraging the EcoPool platform, users can tap into the potential of cloud rewards and green crypto, while navigating the complexities of the bitcoin market.
To start earning and generating passive income through EcoPool, download the EcoPool app to explore the possibilities of cloud rewards and green crypto. By joining the EcoPool network, you can take advantage of the potential for #PassiveIncome and #CloudRewards, while staying up-to-date on the latest market developments and trends in #Bitcoin and #Earning.
Glassnode data shows that more than 15% of bitcoin’s circulating supply has been acquired between $74,000 and $83,000, highlighting just how compressed the current trading range has become and how much supply is concentrated around these levels.
