Crypto Prices: Tips For Balanced Approach Amid Shifting Bitcoin, Ethereum

Crypto analysts reiterated an initial Bitcoin price target of $135K. Analyst Calen Franzen gave price targets of $136,000 to $139,000 for Bitcoin.

BTC price was trading 1.33% higher at $120,432 at the time of writing. The 24-hour low and high were $118,611 and $121,086, respectively.

Furthermore, the trading volume has increased slightly in the last 24 hours, indicating cautious trading.

Bitcoin Daily Price Chart | Source: Calen Franzen

Ethereum Price Eyes $5,000 Post $0.99 Billion Options Expiry

216K ETH options with a notional value of almost $0.99 billion expired today. The put-call ratio was 0.93, suggesting a slightly bearish sentiment among traders.

Also, the max pain point was $4,500, above the current market price. Moreover, the call bets are higher at the strike price, indicating bias towards a lower price to minimize losses.

In the last 24 hours, put volume was lower than the call volume, with a put-call ratio of 0.51. This supported an expected rebound in Ethereum price.

Ethereum Options Open Interest | Source: Deribit

According to Greekslive, some traders are choosing to take profits and wait for a pullback before re-entering despite crypto prices volatility at only 40%.

Rekt Capital predicted ETH rally as it tries to breakout from its monthly bull flag pattern.

Analyst IncomeSharks pointed out ETH/BTC chart with expectations of Ethereum going to $5,000 as Bitcoin moves back towards $125,000.

ETH/BTC Chart in Daily Timeframe

ETH price jumped more than 2% in the past 24 hours amid record ETH treasury growth by Bitmine Immersion.

The price was trading at $4,484. The 24-hour low and high were $4,343 and $4,558, respectively.