According to Rick Maeda, an analyst at Presto Research, the current max pain point for Bitcoin is $59,000. This price is approximately 8% below the spot price, which could potentially create some downward pressure as we approach the expiry date.
It is important for investors to keep an eye on this level as it could impact the market and influence trading decisions. Understanding the max pain point can help traders navigate fluctuations in the price of Bitcoin and make informed choices about buying or selling.
As the expiry date approaches, it will be interesting to see how Bitcoin’s price reacts and whether it will remain close to the max pain level of $59,000. Stay tuned for updates on this developing situation in the cryptocurrency market.
