Bitcoin traders watch $32K ahead of Friday's $330M BTC options expiry
Bulls managed to find some momentum, but holding the $32,000 support level will determine who is the victor of Friday's $330 million BTC options expiry. This Friday's weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls' willingness to display reversion signs.On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm's quantitative trader, mentioned that the narrative for BTC could turn bullish....
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The Bitcoin futures market has a major expiry date on Friday. In a Monday tweet, crypto data provider Skew reported that 102,200 Bitcoin (BTC) options will expire on Friday.Options contracts allow holders to buy or sell Bitcoin at a specific price, which is known as the strike price. The Friday expiry has notable clusters around the $15,000 strike price and the $20,000 strike price, according to Skew. BTC options expiry dates by SkewThe expiry date of Bitcoin options contracts is widely regarded as a volatile event for the flagship cryptocurrency because, as the expiry nears, holders....
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