Bitcoin price consolidates into a tighter trading range under the $25,000 resistance level and noshitcions says regulatory pressure and U.S. Fed commentary are impacting this week’s $710 million options expiry.
) bulls laid most of their options at $24,500 and higher for the March 3 options expiry, and given the recent bullishness seen from BTC, who can blame them? On Feb. 21, Bitcoin’s price briefly traded above $25,200, reflecting an 18% gain in eight days. Unfortunately, regulatory pressure on the crypto sector increased, and despite no effective measures being announced, investors are still wary and reactive to remarks from policymakers.
. Gensler noted that most crypto projects “are securities because there’s a group in the middle and the public is anticipating profits based on that group.”the necessity for even more aggressive interest rate increases to curb inflation. Minneapolis Fed President Neel Kashkari’s and Atlanta Fed President Raphael Bostic’s comments also decreased investors’ expectations of a monetary policy reversal happening in 2023.
For example, if Bitcoin’s price remains near $23,600 at 8:00 am UTC on March 3, only $50 million worth of these call options will be available. This difference happens because the right to buy Bitcoin at $24,000 or $25,000 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 March 3 for call and put instruments varies, depending on the expiry price.
For example, a trader could have sold a call option, effectively gaining negative exposure to Bitcoin above a specific price, but unfortunately, there's no easy way to estimate this effect.Could weak U.S. mortgage applications could benefit BTC bulls?
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