Here’s why $16.5K is critical for November’s $1.14B Bitcoin 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.
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.
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.