Bitcoin bulls hoped to recapture some of this week’s lost gains, but noshitcoins says a $565 million options expiry will put a final cap on any dreams of a short-term trend reversal.
) fell below a four-day narrow trading range near $22,400 on March 7 following comments by U.S. Federal Reserve Chair Jerome Powell as he sat before a Senate banking committee. During the congressional appearance, the Fed chairman warned that the bank is prepared to tame inflation by pushing for more significant interest rate increases.
According to Cointelegraph, it is unclear when creditors can expect to be paid in cryptocurrency or fiat currency, but estimates indicate that the final settlement could take several years. Below are the four most likely scenarios based on the current price action. The number of options contracts available on March 10 for call and put instruments varies depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit:0 calls vs. 7,200 puts. The net result favors the put instruments by $150 million.100 calls vs. 5,000 puts. The net result favors the put instruments by $105 million.1,400 calls vs. 1,900 puts.
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