{"id":565450,"date":"2024-08-16T11:56:07","date_gmt":"2024-08-16T11:56:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=565450"},"modified":"2024-08-16T11:55:49","modified_gmt":"2024-08-16T11:55:49","slug":"bitcoin-price-stalls-at-58k-with-1-4b-btc-options-set-to-expire-as-analysts-predict-this-shib-2-0-could-100x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-stalls-at-58k-with-1-4b-btc-options-set-to-expire-as-analysts-predict-this-shib-2-0-could-100x","title":{"rendered":"Bitcoin Price Stalls At $58K With $1.4B BTC Options Set To Expire As Analysts Predict This SHIB 2.0 Could 100X"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Bitcoin price rose by a fraction of a percentage in the last 24 hours <\/span><a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\"><span style=\"font-weight: 400\">to trade at $58,346<\/span><\/a><span style=\"font-weight: 400\"> as of 03:36 a.m. EST on trading volume that surged 5% to $34 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This comes as around 24,300 Bitcoin options contracts expire today, with a notional value of around $1.4 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Will Bitcoin fall after the options expire, having stalled around $58K in the last two days?<\/span><\/p>\n<h2>Bitcoin Price Could Rebound<\/h2>\n<p><span style=\"font-weight: 400\">The Bitcoin price movements in July formed a rounding top pattern as the bears took control of the price and drove it to the $49,000 support. However, in August, the price of Bitcoin invalidated the bearish sentiments of the pattern, soaring to the $63,000 resistance, according to data from <a href=\"https:\/\/www.geckoterminal.com\/eth\/pools\/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed\">GeckoTerminal<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC has since been trading within a falling channel pattern, but the price bulls aim for a price rebound over the channel.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The price of Bitcoin still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the bearish movements from its resistance level.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the Relative Strength Index (RSI) currently trades slightly below the neutral level, at 43, which indicates that bulls are accumulating and aiming for a rebound over the channel.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the Bitcoin price analysis, BTC is currently bearish, but shows that the bulls are preparing for a rebound over the falling channel pattern. If the bulls take charge of the price at this level, BTC could soar, as the bulls currently target $68,000.<\/span><\/p>\n<figure id=\"attachment_565454\" aria-describedby=\"caption-attachment-565454\" style=\"width: 1255px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-565454 size-full\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-16_10-36-11.png\" alt=\"Bitcoin Price Chart Analysis Source: GeckoTerminal.com\" width=\"1255\" height=\"508\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-16_10-36-11.png 1255w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-16_10-36-11-300x121.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-16_10-36-11-1024x414.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-08-16_10-36-11-768x311.png 768w\" sizes=\"(max-width: 1255px) 100vw, 1255px\"><figcaption id=\"caption-attachment-565454\" class=\"wp-caption-text\">Bitcoin Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">However, if the bears sustain the current pressure, the price of Bitcoin could plunge back to the $54,314 support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, as the Bitcoin price aims for a bullish rally, investors are also piling into a Shiba Inu derivative called<\/span> <a href=\"https:\/\/insidebitcoins.com\/visit\/shibashootout\" rel=\"nofollow\"><span style=\"font-weight: 400\">Shiba Shootout (SHIBASHOOT)<\/span><\/a><span style=\"font-weight: 400\">, which has amassed over $961k in its explosive presale.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the crypto channel 99Bitcoins, investors who buy $SHIBASHOOT have the possibility of earning insane rewards.<\/span><\/p>\n<p><iframe title=\"This Shiba Inu Coin Meme Is Offering Insane Rewards! Do Not Miss Shiba Shootout!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/AuZH1yAVdoE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Shiba Shootout Presale Surges Past $961K, Hurtling Towards Its $1.6 Million Target<\/h2>\n<p><span style=\"font-weight: 400\">Shiba Shootout crafts a Wild West-inspired environment that pushes beyond conventional crypto limits. It offers an adventurous experience blending creativity, strategy, and the allure of a cowboy duel.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hurry! &#128640; Next price hike is just around the corner! <\/p>\n<p>Join our community NOW and claim your free tokens before it's too late! &#127881;<\/p>\n<p>Join us at: <a href=\"https:\/\/t.co\/Fxf9PWP0gz\">https:\/\/t.co\/Fxf9PWP0gz<\/a> <a href=\"https:\/\/t.co\/t8H6MqqhSE\">pic.twitter.com\/t8H6MqqhSE<\/a><\/p>\n<p>&mdash; shibashootout (@shibashootout) <a href=\"https:\/\/twitter.com\/shibashootout\/status\/1818582439570067755?ref_src=twsrc%5Etfw\">July 31, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Users can navigate the crypto world with the flair of a Shiba cowboy, participating in thrilling high-stakes battles with ample opportunities for fun and rewards. The project&rsquo;s main attraction, a play-to-earn (P2E) mobile game, immerses players in Shiba Gulch, a vibrant battleground where they can earn $SHIBASHOOT tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Apart from the P2E crypto gaming in Shiba Gulch, $SHIBASHOOT holders can earn passively through the <a href=\"https:\/\/insidebitcoins.com\/visit\/shibashootout\" rel=\"nofollow\">platform&rsquo;s staking mechanism<\/a>, offering 985% annual rewards.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the developing ecosystem features Posse Rewards, where users can invite friends to join the community, and both parties can earn bonus Shiba Shootout tokens for each new signup.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you are interested in participating in the presale, you can buy the token for $0.0199. But hurry as the price will increase in less than seven days.<\/span><\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/shibashootout\" rel=\"nofollow\"><span style=\"font-weight: 400\">You can buy SHIBASHOOT tokens on the official website here<\/span><\/a><span style=\"font-weight: 400\"> using ETH, BNB, USDT, or a bank card.<\/span><\/p>\n<h2>Related News<\/h2>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\/credit-card\/\"><span style=\"font-weight: 400\">How to Buy Bitcoin with Credit Card<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/www.linkedin.com\/pulse\/shiba-inu-price-prediction-2024-moon-crash-landing-calsona-caibe\/\"><span style=\"font-weight: 400\">&#128021;&#128200; Shiba Inu Price Prediction 2024: &#128640; To The Moon Or &#128201; Crash Landing?<\/span><\/a><\/li>\n<li style=\"font-weight: 400\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-crypto-icos-2024-top-picks-big-returns-juliana-clarisse-calsona-zcxqe\/\"><span style=\"font-weight: 400\">&#128640;&#129297;&#128176; Best Crypto ICOs of 2024: Top Picks for Big Returns &#128176;&#129297;&#128640;<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">PlayDoge (PLAY) - 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