Bitcoin price volatility expected ahead of Friday’s $430M BTC options expiry
Here is why Bitcoin bears stand to profit from this week’s $430 million BTC options expiry.
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Here is why Bitcoin bears stand to profit from this week’s $430 million BTC options expiry.
BTC bulls were liquidated during the drop to $15,500 on Nov. 21, and more downside could occur if bears profit $245 million during Friday's expiry.
Bears are better positioned for Friday’s $600 million BTC options expiry, but bulls can flip the tables if Bitcoin price trades above $18,000.
Bears are currently better positioned for this week’s $510 million BTC options expiry, but their overconfidence could give bulls a chance to flip the table.
Traders expect an uptick in volatility due to the possibility of September’s $2.2 billion options expiry putting pressure on BTC price near a critical support level.
The outcome of the Ethereum Merge will be a primary price drive that dictates whether ETH bears profit from this week’s $490 million options expiry.
BTC bulls have a chance to profit from this week’s $410 million options expiry, but the factors pulling down equities markets reduce the chance of Bitcoin changing its trend.
On August 26, $1.27 billion in ETH options expire and data signals that the price is likely to stay pinned under $2,000 until the Merge.
BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry.
BTC’s $335 million options expiry has become a death trap for bulls, and increased legal action by the SEC and IRS against crypto companies is adding to the sell pressure.