Analysis: Options data shows that the resistance level for Bitcoin is at $120,000, and the resistance level for XRP is at $2.8

ChainCatcher news, according to CoinDesk analysis, options market data shows that Bitcoin may face resistance at $120,000. Data from the cryptocurrency options exchange Deribit indicates that the call options with a strike price of $120,000 have the highest open interest, reaching $1.93 billion. Options contracts with a strike price of $200,000 have also accumulated an open interest of $500 million.

For XRP, the market is primarily focused on two key resistance levels at $2.80 and $5, where the open interest for over-the-counter options contracts has accumulated $2 million and $1.12 million, respectively.