Bitcoin options data points to an interesting outcome after this week’s $1.9B expiry
A flurry of macro and crypto specific factors are expected to impact his week’s $1.9 billion Bitcoin options expiry. The upcoming $1.9 billion Bitcoin (BTC) monthly options expiry on Aug. 25 is key to defining whether the $26,000 support level will hold. One could pin the recent cryptocurrency market sell-off to the U.S. Securities Exchange Commission decision to delay the spot Bitcoin exchange-traded funds (ETF), but there’s also the macroeconomic perspective. If the U.S. Federal Reserve's efforts to curb inflation work, it's probable that the trend of a stronger U.S. dollar will persist. This was evident as the Dollar Strength Index (DXY), a measure of the dollar against other currencies, reached its highest level in 76 days by August 22. To prevent a potential loss of $380 million due to the monthly BTC options expiry , Bitcoin bulls must ensure Bitcoin's price trades above $27,000 by August 25. Bitcoin bears will benefit from the threat of harsh regulation Cryptocurr...