Fasten your seat belts. Volatility bitcoin they do not depend solely on movements in their spot markets. In fact, they also exist financial products derivatives which allows you to stand in reserve. It is especially in the case of option contracts intended to cover buy or sell positions predetermined date and price. A deadline whose deadline can cause some upheaval, especially when 8.1 billion dollars they are in play on September 27th.
Bitcoin: closes at $8.1 billion
Despite the absence of volatility in recent months on the price bitcoinTHE options open up on its price continues to enjoy significant success. In fact, the term for September 27 refers to the total expiration estimated at 8.1 billion dollars.
This amount up to particularly importantas it represents the second most significant in 2024 in the industry. However, the record still remains set last May $8.2 billion on the clock.
This expiration date always raises questions about the possible dynamics this could cause to the price of BTC. And in the current situation, there could be a risk of slowing down bitcoin’s fragile return in an uptrend.
However, call options are in a strong position with 4.9 billion dollars (53%) in total. But still, optimism seems to be reflected excessivewith maximum bets open at a BTC price of $90,000. And suffice it to say that two days left seems too short to achieve this.
Favorable macroeconomic context
The current macroeconomic context appears to be clearly easing in favor of risky assets like bitcoin. With at the forefront of this movement, cut in key rates by the US central bank (Fed) last week
Dynamics that can also be added to China’s surprising decision to revive its economy in difficulties. With an envelope announced 140 billion dollars definitely included in this strategy brings hope for the cryptocurrency market.
A set of elements that give hope for a favorable outcome facing the expiration of those 8.1 billion bitcoin options. Because it seems unlikely that sellers will drop its price again below the $60,000 level. Even more with this indicator, which sets a target above $116,000 at the end of the bull run. Fasten your seat belts…