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What the FUD? Fear drives Bitcoin price down, not Friday's $6.1B expiry

Published 03/25/2021, 04:00 PM
Updated 03/25/2021, 05:40 PM
What the FUD? Fear drives Bitcoin price down, not Friday's $6.1B expiry
BTC/USD
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Earlier this week, Cointelegraph reported the importance of the upcoming $6.1 billion Bitcoin (BTC) options expiry on March 26. The article made clear that bulls were in control if one excluded the put (sell) options below $47,000, which is likely the case as BTC currently hovers above $50,000.

As the expiry date draws closer, it's less likely that traders will be willing to pay for the right to sell BTC at $47,000. The same could be said for the ultra-bullish call (buy) options at $60,000 and above. Therefore, the $6.1 billion total open interest is heavily inflated by worthless options.

March 26 aggregate BTC open interest by strike. Source: Bybt.com

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