Sunday, November 17, 2024
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Bitcoin Price Drops Below $28K as Options Expire, Traders Borrow WBTC From Aave

The leading cryptocurrency by market value slipped by 1% to $27,546 during European hours having failed to keep gains above $29,000 on Thursday, CoinDesk data show. At 08:00 UTC, Deribit, the world's largest crypto options exchange by trading volumes and open interest, settled bitcoin options worth over $4 billion. Source

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$1.26B in Ethereum options expire on Friday and bulls are ready to push ETH price higher

Ether's (ETH) 53% rally between July 13 and 18 gave bulls an edge in July's $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the "Merge," a transition out of the burdensome proof-of-work (PoW) mining mechanism.Ether USD price index, 12-hour chart. Source: TradingViewAccording

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$1.1B in Bitcoin options expire on Friday, but data points to a sub-$55K BTC price

Bitcoin (BTC) bulls are still licking their wounds from the bloody Dec. 4 correction, which saw the price collapse from $57,000 all the way to $42,000. This 26.5% downside move caused $850 million in long BTC futures contracts to be liquidated, but more importantly, it shifted the “Fear and Greed

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