Bitcoin price breaks from range with drop below $28K, and options tilt toward BTC bears
About $570 million in weekly BTC options expire on Friday, and the recent macro and crypto news events have further tilted the advantage to bearish traders.
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About $570 million in weekly BTC options expire on Friday, and the recent macro and crypto news events have further tilted the advantage to bearish traders.
BTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire this Friday.
Bitcoin bears are closing in on a rare win as they have the advantage in this week’s $600 million BTC options' expiry.
Two key Bitcoin price metrics suggest that bulls will be able to hold the $30,000 level as support.
News of regulatory enforcement against the crypto sector fell by the wayside as the Bitcoin price rallied above $30,000, and options data suggests the trend will continue.
Fed Chair Jerome Powell announced a pause in interest rates, but Bitcoin options data still warns that a BTC price drop to $25,000 is possible.
Bitcoin’s price continues to explore the lower regions of its trading range, but a drop to $25,000 seems nearly inevitable, according to derivatives data.
Regulatory concerns continue to impact the entire crypto market, and this week’s BTC options expiry could play a decisive role in pushing the Bitcoin price under $26,000.
This week’s BTC options expiry could play a decisive role in Bitcoin price potentially trading below the $26,000 level.
Crypto traders expected a price reversal could use this options strategy to get positioned in Bitcoin.