Bitcoin traders watch $32K ahead of Friday's $330M BTC options expiry

Published 07/22/2021, 03:05 PM
Updated 07/22/2021, 10:40 PM
Bitcoin traders watch $32K ahead of Friday's $330M BTC options expiry
BTC/USD
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BTC/USD
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This Friday's weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls' willingness to display reversion signs.

On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm's quantitative trader, mentioned that the narrative for BTC could turn bullish because of the ongoing fear, uncertainty and doubt (FUD) caused by the China BTC mining ban, Grayscale GBTC unlock and recovery in stock markets.

BTC/USD price at Coinbase. Source: TradingView
Bitcoin aggregate options for July 23. Source: Bybt

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