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Bitcoin bulls look to profit from Friday’s $195M BTC options expiry

Published 09/15/2021, 04:30 PM
Updated 09/16/2021, 02:20 AM
Bitcoin bulls look to profit from Friday’s $195M BTC options expiry
BTC/USD
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COIN
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Over the past ten days, Bitcoin (BTC) price tested the $44,500 resistance on multiple occasions, and this marked a 16% drawdown from the previous week's $53,000 local top. Not even the $3.4 billion long futures contracts liquidations that occurred on Sept. 7 while BTC dropped by 18.7% was enough to eliminate bulls' optimism, according to options markets data.

Bitcoin price at Coinbase (NASDAQ:COIN) in USD. Source: TradingView

If historical data plays any role in the price of Bitcoin, the month of September presented negative performances in four of the previous five years, and BTC finished August trading at $47,110.

Bitcoin options aggregate open interest for Sept. 3. Source: Bybt.com

The bulls apparent advantage is misleading

Incentives are in place for bulls to try to break $50,000

Continue Reading on Coin Telegraph

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