CRYPTO DOOMSDAY IS COMING! 🚨💸
So, you wanna know what’s cookin’ in the crypto world? 🤔 Well, let me tell you, folks, it’s about to get real! 🚨 The stock market is like a big ol’ rollercoaster, and today’s the day when options worth over $4.7 trillion expire. That’s like, a gazillion dollars! 💸
US Stock Market Options Expiry Could Hit the Crypto Market Like a Sledgehammer
This week, we had the Federal Reserve deciding not to raise interest rates (yawn), the SEC ending the Ripple lawsuit (ho hum), and Donald Trump giving a pre-recorded speech at a crypto conference (because, why not?).
But now, it’s time for the Triple Witching event, folks! 🎃 This is like the crypto version of the apocalypse. Options expire, stocks plummet, and crypto prices go haywire! 🤯
Stocks tend to drop like a stone before the triple-witching event. Dow Jones index futures dropped by 140 points, while those tied to the S&P 500 and Nasdaq 100 fell by 0.50%. Yeah, it’s like a big ol’ mess! 🤪
The US stock market futures expiry has an impact on cryptocurrencies like BTC, ETH, and XRP because of their close correlation. It’s like they’re all stuck together in a big ol’ crypto boat, and if one goes down, they all go down! 🚣♂️
BTC Price Technical Analysis: The Bearish Breakdown Blues
Bitcoin price has been rising like a phoenix from the ashes, but now it’s on the verge of a bearish breakdown. It’s like it’s stuck in a rising wedge pattern, and if it breaks down, it’s gonna be a wild ride! 🎢
With the two trendlines converging, the BTC price will likely have a bearish breakdown to $76,400. The bullish Bitcoin forecast will become invalid if it rises above $89,240, the neckline of the double-top at $108,300. Yeah, it’s like a big ol’ game of crypto musical chairs! 🎵
ETH Price Technical Analysis: The Bearish Flag Pattern of Doom
Ethereum price has formed a bearish flag pattern, and if it breaks down, it’s gonna be a crash to $1,500! 😱 It’s like a big ol’ crypto rollercoaster, and we’re all just along for the ride! 🎠
The ETH price has moved below the key support at $2,120, the neckline of the triple-top pattern at $4,000. These patterns, coupled with the death cross that happened in February, means that ETH price crash to $1,500 is possible. Yeah, it’s like a big ol’ crypto train wreck! 🚂
XRP Price Technical Analysis: The Ripple Effect of Doom
XRP price has lost momentum after the SEC ended the Ripple case. It’s like it’s stuck in a head and shoulders pattern, and if it breaks down, it’s gonna be a wild ride! 🎢
Rising above $3 is important for the coin to invalidate the head and shoulders pattern that has formed this year. Therefore, there is a risk that the Ripple price will have a bearish breakout. Yeah, it’s like a big ol’ crypto game of Jenga! 🎲
It’s Gonna Be a Wild Ride!
The $4.7 trillion US stock options expiry known as triple-witching is a major event that happens once per quarter. It leads to volatility, which could impact crypto prices, which are now vulnerable after forming bearish patterns. Yeah, it’s like a big ol’ crypto rollercoaster, and we’re all just along for the ride! 🎠
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2025-03-21 15:49