On May 31, Bitcoin will see $6.50 billion options expire
2024-05-28 22:25:33
Bitcoin is set for an option expiration of $6.50 billion on May 31 as bulls attempt to push the price above $70,000, but face challenges. Despite investors betting that Bitcoin will rise to $80,000 and $90,000, they have recently failed to break through the $70,000 resistance. As of now, 91% of call options are set at $72,000 or higher, and combined data shows that if Bitcoin trades above $70,000 on May 31, bulls will make a profit of $270 million. However, if the price remains near $67,800, the market will be relatively balanced. Deribit held a 71% share of the Bitcoin options market in May, followed by CME and OKX.
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