Bitcoin options tantalizing bears to push price below $30K before Friday’s expiry

Bitcoin alternatives expiries coincide with volatilityA review of Bitcoins recent rate action shows that three out of the last 4 BTC alternatives expirations activated considerable price motions, making it essential for traders to pay close attention to these events.Bitcoin/ USD rate index, 4-hour. Bitcoin bulls overoptimism leads to a disappointing outcomeBitcoins rate briefly exceeded $31,000 on July 13 and July 14, sustaining bullish bets by traders utilizing options contracts. The outcome will be lower than the $600 million overall open interest because the bulls were overconfident.For example, if Bitcoins cost trades at $30,500 at 8:00 am UTC on July 14, only $18 million worth of call alternatives will be accounted for.

Bitcoin alternatives expiries coincide with volatilityA evaluation of Bitcoins current cost action shows that 3 out of the last 4 BTC choices expirations set off considerable rate motions, making it essential for traders to pay close attention to these events.Bitcoin/ USD price index, 4-hour. Source: TradingViewNotably, Bitcoins rate has regularly revealed strong reactions following the weekly 8:00 am UTC options expiry. Bitcoin bulls overoptimism leads to a disappointing outcomeBitcoins rate briefly exceeded $31,000 on July 13 and July 14, fueling bullish bets by traders utilizing options agreements. The result will be lower than the $600 million overall open interest because the bulls were overconfident.For example, if Bitcoins rate trades at $30,500 at 8:00 am UTC on July 14, only $18 million worth of call alternatives will be accounted for.