Bitcoin bulls set to defend $13K as $450M in BTC futures expire Friday

A total of 62K Bitcoin (BTC) options are set to expire this Friday, and this is equivalent to $830 million in open interest. These massive numbers fail to reflect the fact that 58% of these options are now deemed worthless.

As we approach the expiry date, call (buy) options above the current level begin to depreciate very fast. It is not worth paying $20 for the opportunity to buy BTC at $14.5K on Friday morning. Therefore, rolling options to the next month is not that helpful.

October BTC…

Source link

About bitcoin

Check Also

Bitcoin Faces Volatility Rise as Futures Market Shows Signs of Overheating

A metric from bitcoin’s perpetual futures market suggests some traders may have become overleveraged during …

Leave a Reply

Your email address will not be published. Required fields are marked *