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Bitcoin's range trading came to an abrupt end as a fresh round of downside correction pierced the $62k support level, causing BTC to momentarily drop below $60.5k before bouncing back to $61k. With consecutive BTC futures ETF launches, BTC's price volatility has been decreasing since last week. However, a trend reversal is likely to occur soon. 51k contracts with a notional value of more than $3.2 billion are set to expire in the options market this Friday, Oct. 29. With the max. pain price near $54k, a surge in volatility is to be expected as the expiry date draws near. As it stands, nearly 45% of calls and 7% of puts are still in the money, and with the current put-call ratio sitting at around 0.66, there is likely to be a bullish trend moving forward.
Popular creative software company Adobe is rolling out a Photoshop feature that will allow digital artists and creators to bake content credentials into their NFT artwork by the end of this month. The "prepare as NFT" function will link the creator's Adobe ID directly to their crypto wallets, validating the authenticity of their artwork through a certificate that is compatible with major NFT marketplaces like OpenSea and SuperRare. This new feature will hopefully aid in curbing the copyright infringement problem currently plaguing the NFT space.