Can Bitcoin bears avoid a major loss with $4.7 billion in BTC monthly options expiring on June 30?
in a move to increase compliance with global Anti-Money Laundering regulations.
percentage to exchanges over the past week, totaling $128 million. Curiously, the movement mimics spikes seen during the 2021 bull run as miners took profits. that most policymakers expect two more rate hikes this year. According to the CME FedWatch Tool, investors are pricing in 82% odds of a 25 basis point interest rate increase on July 26.Bitcoin price last flirted with the $31,000 level on June 27, but the resistance proved stronger than anticipated. The subsequent correction to $30,000 supports the thesis of sideways trading in the short term as investors evaluate the impacts of additional interest rate increases by the Fed.
But if Bitcoin’s price remains near $30,500 at 8:00 am UTC on June 30, only $630 million worth of these call options will be available. This difference happens because the right to buy Bitcoin at $31,000 or $32,000 is useless if BTC trades below that level on expiry.Below are the four most likely scenarios based on the current price action. The number of options contracts available on June 30 for call and put instruments varies depending on the expiry price.
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