Bitcoin bears dominate Friday’s $2.1B BTC options expiry with a $585M lead
Bitcoin price is struggling to regain the $42,000 support as bears hold a $585 million advantage ahead of Friday's $2.1 billion BTC options expiry. A total of 53,400 Bitcoin (BTC) options are set to expiry on Friday, May 28. At first sight, bulls appear to lead as the $2.1 billion open interest call (buy) to put (sell) options ratio stands at 1.32, favoring the neutral-to-bullish derivatives.However, after Bitcoin dropped 33% in May, the right to acquire BTC at $46,000 and above is essentially worthless since there are less than 38 hours left before expiry. Bitcoin price at Coinbase, USD.....
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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. Bitcoin (BTC) has been trying to break above the $20,500 resistance for the past 35 days, with the latest failed attempt on Oct. 6. Meanwhile, bears have displayed strength on four different occasions after BTC tested levels below $18,500 during that period.Bitcoin/USD price index, 12-hour chart. Source: TradingViewInvestors are still unsure whether $18,200 was really the bottom because the support level weakens each time it is tested.....
Bitcoin price dropped to $60,700 today and bears are keen to pin the price under $62,000 in order to profit from Friday’s options expiry. Bitcoin's (BTC) 90% year-to-date gain was largely fueled by the SEC’s recent exchange-traded fund (ETF) approval and in the first 48-hours of listing, ProShares’ Bitcoin Strategy ETF ($BITO) was able to amass $1.1 billion in assets under management.On Nov. 1 the U.S. Treasury released its stablecoins report, which basically urged Congress to regulate the industry. In short, the working group expects government agencies to require stablecoin issuers to....
Friday’s $1 billion Bitcoin options expiry is tilted toward bulls who have set their sights on the $40,000 level. On Feb. 5, a total of $1 billion in Bitcoin (BTC) options open interest is set to expire. This number is small relative to the past month's $4 billion options expiry, but monthly and quarterly options typically concentrate the most volume. Friday's expiry is somewhat unusual although it is balanced at the current BTC levels. Data also shows that bulls have many incentives to push up the price above $38,000.BTC Feb. 5 options aggregate open interest. Source: Deribit, OKEx,....
A record number of Ether options is set to expire on June 25 as ETH looks to BTC to reverse its price momentum. Ether (ETH) faces its largest options expiry ever on June 25 as nearly $1.5 billion out of $3.3 billion notional open interest (OI) in ETH options will expire. June’s expiry has over 638,000 ETH options contracts in its purview, accounting for 45% of the total open interest in these options.Although it’s the largest options expiry in the history of the derivative product, the open interest in ETH options OI hit its all-time high of nearly $5.5 billion on May 20 soon after ETH had....
ETH bulls will need to keep searching for positive news, especially as bears apply extra pressure ahead of Friday’s $1.1 billion monthly options expiry. Ether (ETH) price tumbled below the $3,000 support on Jan. 21 as regulatory uncertainty continues to weigh down the sector and rumors that the United States Securities and Exchange Commission is reviewing DeFi’s high-yield crypto lending products continue to circulate. On Jan. 27, the Russian Finance Ministry submitted a crypto regulatory framework for review. The proposal suggests that crypto operations are carried out within the....