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BTC futures data shows bulls are not sure that Bitcoin price will hold above $24,000, but range-bound action could help them profit from Aug. 12’s $475 million options expiry.
BTC price has been gaining momentum as it nears $24,000, and this week's options expiry could help bulls profit $200 million.
Ethereum network developers confirmed September as the date of the upcoming Merge, a move which prompted traders to flip long on ETH.
BTC bears aim for a $360 million profit in July 29’s $1.76 billion monthly options expiry, but the FOMC interest rate decision could play a decisive factor.
BTC bulls aim to secure a $235 million profit from July 22’s BTC options expiry, but a downside move below $22,000 could nix this plan.
Bulls bet on BTC prices above $60,000 for the June monthly options expiry, and now pro investors are going to pay a hefty price for being wrong.
Bulls placed too much hope on $32,000 flipping to support, an error that is bound to show by Friday’s $800 million BTC options expiry.
BTC price lost the momentum that pushed it to $32,300 on May 31, but this week’s option expiry could help bulls recapture the key price level.
Traders are calling for a “relief rally” to $35,000, but derivatives data shows bears stand to profit from this week’s $1.81 billion BTC options expiry.
Bitcoin is holding the $30,000 level, but the $640 million in BTC options that expire on May 20 could result in the price visiting recent lows.