đąđ„ You must be thinking that bitcoin will go down from there? đš
So here's the answer..
Will Bitcoin fall below $70K after $2.2B options expiry?
Bitcoin could fall below the $70,000 psychological mark on June 7, with over $2.2 billion worth of cryptocurrency futures options set to expire.
Of the total $2.2 billion, $1.22 billion of Bitcoin futures options are set to expire on Friday, signaling a âmax pain pointâ of $69,500 for BitcoinâsÂ
BTC $70,693 price.The BTC futures options are set to expire with a put-to-call ratio of 0.66 on June 7, at 8:00 am UTC, according to a June 6 X post by Deribit Exchange.
Periods close to the expiration of options are often characterized by increased price volatility in the crypto markets. While the max pain point indicates the price at which most options contracts would expire worthless, itâs not a guarantee that the underlying asset will fall to that price.
Bitcoinâs price rose 0.3% in the 24 hours leading up to 10:50 am UTC to trade at $70,950. The worldâs first cryptocurrency is up 4.6% on the weekly chart.
