Bitcoin price topped $30,000 again as the recent focus on crypto exchange regulation died down and the flurry of BTC ETF applications took center stage.
) price, specifically its $1 million target. According to Wood, even in a deflationary environment, Bitcoin can still outperform by offering a solution to the traditional financial system’s counterparty risk.with the U.S. Securities and Exchange Commission to avoid a potential asset freeze. The event further cemented Bitcoin bears’ opportunity to profit on the $715 million weekly BTC options expiry.
For instance, if Bitcoin’s price remains near $29,800 at 8:00 am UTC on June 23, there will be only $5 million in put options. This distinction arises since the right to sell Bitcoin at $28,000 or $29,000 is rendered void if BTC trades above that on the expiry.Below are the four most likely scenarios based on the current price action. The number of options contracts available on June 23 for call and put instruments varies depending on the expiration price.
This rough estimate considers only put options in bearish bets and call options in neutral-to-bullish trades. Nonetheless, this oversimplification excludes more complex investment strategies. A trader, for example, could have sold a call option, effectively gaining negative exposure to Bitcoin above a specific price, but this effect is difficult to estimate.
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