news

bitcoin

1 X bitcoin bitcoin =

Monday

10 May 2021

Sub-$60K monthly close will make Bitcoin's $3.9B options expiry a non-event

Sub-$60K monthly close will make Bitcoin's $3.9B options expiry a non-event


smart summary beta

This downside move obliterated more than $9 billion long BTC futures contracts in a swift action that was previously unthinkable to most investors.

Even though the Bitcoin price recovered $5,800 over the past 48-hours, in the options markets, the bulls were not able to take the bears by surprise as both sides are virtually balanced for April 30 expiry.

The total Bitcoin futures open interest just three months earlier was $11 billion, although this record-high took place on April 13 at $27.7 billion.

While the neutral-to-bullish call options dominate with 41% larger open interest for April 30, a more detailed analysis is needed to interpret this data.

On the other hand, the more bearish put options down to $51,000 total 12,000 BTC contracts, currently worth $650 million in open interest.

This figure represents a potential $700 million open interest for the more bearish options.

The futures and options expiry at Deribit, OKEx, and Bit.com takes place on April 30 at 8:00 AM UTC.

Goto Full Article

bitcoin bitcoin price

$58713.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.2)

Article Metadata

author

site

cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2021