The Bitcoin market is on a date today with the expiration of $6 billion options contracts… what does that mean?
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Answer The Bitcoin market is on a date today with the expiration of $6 billion options contracts… what does that mean?
The Bitcoin market is on a date today with the expiration of $6 billion options contracts.
The expiry of $6 billion in bitcoin options is a new record in the history of bitcoin-related options contracts, which are set to expire on Friday, March 26.
The impact of these contracts on the Bitcoin market, can add Selling pressure is increasing in the short term and infuses additional price fluctuations.
According to contracts and derivatives data platform Bybt, more than $5.5 billion of options contracts are set to expire today, and previous expirations have affected the spot markets.
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Options contracts are somewhat similar to futures contracts, but derivatives and options contracts give traders the right but not the obligation to sell or buy an asset at a predetermined price.
Analysts are cautiously watching Bitcoin’s movement:
The last Friday of every month is significant for bitcoin prices as the price of bitcoin has fallen on average by 2% in the week before the last Fridays in the past three months, according to the platform.the challenge“.
The same source added that in the weeks following the last Friday of each month, Bitcoin records an average gain of 12%.
Data from Bybt indicates that 90% of the open interest comes via the derivatives trading platform Deribit.
Open interest refers to the total number of outstanding derivative contracts that are not settled.
“Max pain” is the price at which option sellers will owe the least amount of money to the option buyer.
Max pain is more than $10,000 from the current price of Bitcoin, a sign that there may be selling pressure on Friday.
The founders of the analytics platform, Glassnode, added that price expectations for April are high.
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Analyst and investor in the crypto industry “Ran Neuner” anticipates market volatility and pressure on the short, which actually represents a rapid increase in the price of Bitcoin due to the increase in short selling rather than other fundamentals, and stated:
$6 Billion of Futures Expires Today and Bitcoin Holds Up!
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Sellers weren’t able to break $50,000 and so the shorts ran out!
I expect a short afternoon in the next 4 days! I also expect a massive alternative infusion.
At the time of publishing this article, the price of Bitcoin is estimated at 52,900 dollars, according to the “coingecko” website.
Bitcoin price dropped to the support level and the daily low at $50,500, which triggered another upward movement.
The cryptocurrency market has been correcting sharply over the past week, with losses accelerating on Thursday, March 25th.
As trading begins in Europe and the US, all eyes will be on the expiration of the big options and the next Bitcoin move.
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