Bitcoin under pressure as $900 million in weekly BTC options expire Friday.
Bitcoin 4-h price movements during option expiries. Source: TradingView
The subsequent 8.2% two-day correction tested $27,400 support, favoring the thesis of sideways trading as investors evaluate the economic crisis dynamic and its potential impact on cryptocurrencies.. Such a pessimistic scenario for the global economy might explain why some Bitcoin traders decided to reduce exposure over the past week, greatly reducing the odds of breaking $30,000.
But if Bitcoin’s price remains near $27,500 at 8:00 am UTC on May 12, only $11 million worth of these call options will be available. This difference happens because the right to buy Bitcoin at $28,000 or $29,000 is useless if BTC trades below that level on expiry.Below are the four most likely scenarios based on the current price action. The number of options contracts available on May 12 for call and put instruments varies, depending on the expiry price.100 calls vs. 9,900 puts.
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