Bitcoin Hits New Heights but Faces Volatility as Crypto Options Expire

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple

According to FXStreet's latest analysis on cryptocurrency price predictions, Bitcoin (BTC) recently hit a new all-time high of $93,265 before experiencing a slight decline. Currently trading around $88,200, the Relative Strength Index suggests that traders should be cautious as it indicates overbought conditions. A potential pullback could see BTC retesting its support level at $78,807 unless bulls manage to push towards the Fibonacci extension level near $99,887.

Ethereum (ETH), meanwhile, is facing critical levels with prices hovering just above the psychological mark of $3,000. If ETH closes below this threshold again after recent rejections from higher resistance points like $3,454 earlier in the week—a further drop might lead it downwards toward its 200-day Exponential Moving Average at approximately $2,789.

Ripple (XRP) has shown some bullish momentum by breaking past daily resistances but now approaches another key barrier at about $0.854 per unit; failure here may result in declines back under previous supports such as those found nearer $0.714 according to reports.

The Impact of Expiring Crypto Options

A report from CryptoPotato highlights an impending expiration event for Bitcoin options worth approximately $3 billion scheduled later Friday morning across Asian exchanges worldwide—potentially influencing short-term volatility given current market trends observed throughout recent weeks leading up to these momentary fluctuations. This particular batch includes nearly forty thousand contracts set to expire soon alongside similar numbers related specifically to other cryptocurrencies like Ethereum, which also faces significant expirations totaling hundreds of thousands more units combined, collectively valued somewhere close to the four-billion-dollar range.

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