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The Largest Volume Of Bitcoin Options Expires Soon

24 September 2020 19:39, UTC
The Largest Volume Of Bitcoin Options Expires Soon
By Anna Martynova

A total of 87,000 quarterly Bitcoin option contracts expire this Friday. Options trading platform Deribit has clarified that this can lead to increased volatility during the days and hours of options expiration.

At the time of writing, Bitcoin is down nearly 6% at the current price of $10,342. This marks a major decline from recent highs of $11,200, set shortly before the cryptocurrency faced a sharp correction – the pressure from the sellers was significant. As a result, BTC entered a long phase of consolidation around $10,000.

Several factors that have likely caused the recent price decline are stock market turbulence, the US dollar, and the weakness of the overheated DeFi altcoins. Observing the dynamics of the market ahead of the options expiration help understand in which direction the market will move in the near future.

Image: Deribit



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