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Bitcoin’s Woes Could Be Compounded by $10 Billion Options Expiry

Bitcoin’s Woes Could Be Compounded by $10 Billion Options Expiry
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Cryptocurrencies Bitcoin’s Woes Could Be Compounded by $10 Billion Options Expiry Bitcoin is facing a massive options expiry that could put more pressure on a market already struggling with fading institutional demand and macroeconomic headwinds. About $10 billion of notional value in Bitcoin options is set to expire on Deribit, the largest crypto options venue, at 4 p.m. Friday in Singapore. Because most of those options are bullish bets and Bitcoin has been falling, there’s potential for...

Cryptocurrencies Bitcoin’s Woes Could Be Compounded by $10 Billion Options Expiry Bitcoin is facing a massive options expiry that could put more pressure on a market already struggling with fading institutional demand and macroeconomic headwinds. About $10 billion of notional value in Bitcoin options is set to expire on Deribit, the largest crypto options venue, at 4 p.m. Friday in Singapore. Because most of those options are bullish bets and Bitcoin has been falling, there’s potential for traders to adopt more defensive or bearish positioning.
Bitcoin (ORG) Deribit (PERSON) Singapore (LOCATION)
Originally published by Bloomberg Markets Read original →