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Bitcoin’s Options Expiry to Test BTC’s $100K Floor – Will Bears Take Control?
The cryptocurrency market has been witnessing some extreme price movements lately, and it seems like the volatility is far from over. With Bitcoin’s (BTC) options set to expire this week, there’s a high possibility that we’ll see even more intense fluctuations in the coming days.
The data suggests that BTC options worth $4 billion are set to expire on June 21st, with max pain anchored at $105,000. This is accompanied by a put-to-call ratio of 1.19, indicating a strong skew towards bearish bets.
These developments have led many analysts to speculate about the future trajectory of Bitcoin’s price action.
While some are hopeful that the current downtrend will be reversed soon, others believe that the bears have more control over the situation now.
Source: ambcrypto.com
