As Fed Meeting Looms, Bitcoin Traders Focus on Options Market
  The latest moves in crypto markets, in context By the CoinDesk Markets Team Edited by Bradley Keoun September 22, 2021 Sponsored by  (Price data as of September 22 @ 11:00 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
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Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers:
Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
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Market Moves by Omkar Godbole Bitcoin Eyes $3B September Options Expiry After a Drop to $40K Major crypto options exchanges, including industry leader Deribit, are due to settle billions of dollars worth of bitcoin options contracts this Friday. Analysts do not expect the monthly expiration to have a notable impact on bitcoin, which is under pressure this week due to several macro risks and regulatory concerns.
Data provided by Skew shows a total of 73,700 options contracts worth $3.14 billion due for expiry Friday, of which nearly 50,000 are call options and the rest are puts. Deribit alone will be settling more than 85% of the total open interest.
"I'm not expecting much fireworks unless we run through $50,000," Shiliang Tang, chief investment officer of crypto hedge fund LedgerPrime told CoinDesk in a Telegram chat. "There's some concentrated open interest there."  Chart of options contracts, measured by the number of underlying bitcoin, shows big slug of expirations concentrated on Friday. (Skew.) Read the original story here: Bitcoin Eyes $3B September Options Expiry After a Drop to $40K
Technician's Take by Damanick Dantes, CMT  Bitcoin Oversold at Support; Resistance at $47K Bitcoin (BTC) is holding support above $40,000, which could stabilize the pullback and encourage short-term buyers to return. However, upside appears to be limited given strong resistance around $47,000-$50,000.
The cryptocurrency was trading around $42,000 at press time and is down 2% over the past 24 hours.
 Bitcoin daily price chart shows the cryptocurrency finding support around its 100-day moving price average. (TradingView, CoinDesk)
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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