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Analysis: BTC is currently maintaining above $110,000, and an upward momentum may be about to emerge.
Odaily News As August comes to an end, the mild pullback of Bitcoin may also be nearing its conclusion. Bitcoin has fallen about 4% this month, down 12% from its historical high of $124,500, and is currently trading around $110,580. Encouragingly, August's performance is better than the past three years, and with the holiday season over, trading activity in September should pick up. The options market points to a "maximum pain" level of $116,000, which refers to the strike price at which the largest number of options expire worthless, typically causing the greatest financial pain for option holders while providing the greatest profit for option sellers. Given that this level is above the current spot price of Bitcoin, it suggests that there may be upside potential soon. (CoinDesk)
BTC-1.61%