Renewed Bullishness Expected After Bitcoin, Ether's $10B Options Expiry on Friday
Summary
Bitcoin and ether options worth $6.68 billion and $3.5 billion, respectively, are set to expire on Deribit, representing over 40% of the current open interest. This could lead to increased market volatility. Over 25% of open interest is expected to expire profitably. The recent price drop in cryptocurrencies is attributed to miner sales, German-seized BTC, and the imminent transfer of Mt. Gox coins. Despite short-term bearish sentiment, traders anticipate a positive shift for bitcoin by July 12 and ETH by July 5, based on options skew.
