Bitcoin’s surge above $40,000 boosted the bulls’ advantage in this month’s $1.7 billion options expiry.
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Bitcoin’s surge above $40,000 boosted the bulls’ advantage in this month’s $1.7 billion options expiry.
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BTC traders are still searching for a bottom, but derivatives metrics show sentiment is negative and even the rally to $40,000 had little impact.
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Bears have a potential $450 million lead if Bitcoin fails to hold $32,000 until June 25.
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Bulls will eliminate 99% of the bear’s protective puts if BTC trades above $40,000 on June 19.
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Learn how pro traders use covered call strategies as a low-risk method to increase their Bitcoin holdings.
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Bitcoin options traders hoped for a $60,000 monthly close, but the balance between calls and puts signal the expiry will be a non-event.
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Analysts say Friday’s $6.1 billion Bitcoin options expiry is putting downward pressure on BTC price but derivatives data suggests otherwise.
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