Bitcoin Holds Above $30K as Investors Await Historically Strong July, Eye Options Expiry

Meanwhile, bitcoin’s price as the market approaches Friday’s expiry of bitcoin options contracts could fuel an additional price increase, or send it spiraling in the immediate aftermath. “If bitcoin builds momentum above $30,000 as expiry approaches, dealers will buy the cryptocurrency in the spot and futures markets,” CryptoX Co-Managing Editor of Markets Omkar Godbole wrote. “That, in turn, could lead to an exaggerated price rally, often called a gamma squeeze, or sling-shot effect. On the flip side, dealers will be forced to sell on a potential decline below $30,000.”