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Bitcoin ($BTC) is trading below $63,000, squeezed by a $10.6 billion options expiry and a wave of ETF outflows that have put near-term price direction in question.
Analysts say the next decisive test arrives Thursday, when the Personal Consumption Expenditures index — the Federal Reserve's preferred inflation gauge — is due for release.
What a $10.6 Billion Options Expiry Actually Means An options expiry is the scheduled date on which outstanding options contracts — the right, but not the obligation, to buy or sell Bitcoin at a set price — must be settled or allowed to lapse.
When the notional value of expiring contracts reaches the scale seen here, the event can concentrate selling pressure or trigger abrupt repositioning as traders close or roll their bets.
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