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$475M in Bitcoin options expire this week — Are bulls or bears poised to win?

Published 08/10/2022, 04:15 PM
Updated 08/10/2022, 06:00 PM
$475M in Bitcoin options expire this week — Are bulls or bears poised to win?
BTC/USD
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COIN
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Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls.

Considering the current regulatory pressures in play, there seems to be a good enough rationale for avoiding bullish bets, especially after the U.S. Securities and Exchange Commission pressed charges against a former Coinbase (NASDAQ:COIN) manager for illegal securities trading on July 21.

Bitcoin options aggregate open interest for Aug. 12. Source: CoinGlass

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