As the expiration date for 18,000 Bitcoin options approaches, will the current BTC price surge continue, or will it level off or decline?

Quick Summary:

The Bitcoin (BTC) price has experienced a significant uptick, marking a nearly 3% surge today following a period of sluggish trading. Meanwhile, the recent rally, after a prolonged volatile market sentiment, precedes a major event: the expiry of 18,000 Bitcoin options. Notably, the market participants are closely watching the implications of this expiry on BTC’s price trajectory and the broader cryptocurrency market.

According to CoinGlass data, the Bitcoin Futures Open Interest (OI) soared 1.84% to 480.25K BTC or $30.28 billion today.

On the other hand, the Ethereum price rose 1.80% to $3,034.26 ahead of the options expiry.

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Article Details

Author / Journalist: Rupam Roy

Category: Crypto

Markets: India

Topics: Bitcoin News Ethereum options Ethereum (ETH) price Bitcoin options expiry Bitcoin (BTC) Price 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-10 @ 17:19:42 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 412 words

Reading Time: 3 minutes read

Sentences: 39 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20929312

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