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Bitcoin’s Options Expiry to Test BTC’s $100K Floor – Will Bears Take Control?
The highly anticipated options expiration is set to kick off a volatile ride for the cryptocurrency market, with Bitcoin (BTC) at the forefront. The situation is eerily reminiscent of 2021’s infamous May options expiry, where bears emerged victorious as the price crashed by 30% in just three days.
As we approach the event horizon of this highly anticipated expiration, it appears that bearish forces are gearing up to take control once again. With a put-to-call ratio of 1.19 and puts stacked thick below current levels – particularly at $102K and $105.5K, bears have already begun their push to pin BTC’s price under the max pain zone.
In an unprecedented move, over $4 billion in Bitcoin options is set to expire on June 21st, with a staggering $14.2 billion in notional value scheduled for expiration on June 27th. This monumental event has all the makings of a potential bloodbath for bulls as the pressure mounts on BTC’s critical $100K support.
The market’s anticipation is palpable, and it’s clear that bears are working tirelessly to keep the price pinned below the max pain level. With the weight of such enormous notional value poised to impact the market, one can’t help but wonder if this isn’t a ticking time bomb for Bitcoin enthusiasts.
Source: ambcrypto.com
