The median trading volume across the top three decentralized exchanges jumped 444% between June 5 and June 7. As DEX volumes surged,, the difference between the value of assets entering and exiting the exchange.
Below are the four most likely scenarios based on the current price action. The number of options contracts available on June 9 for call and put instruments varies depending on the expiry price.100 calls vs. 5,100 puts. Bears in total control, profiting $125 million.1,500 calls vs. 3,900 puts. The net result favors the put instruments by $65 million.4,200 calls vs. 1,300 puts. The net result favors the call instruments by $80 million.8,700 calls vs. 700 puts.
Given that Bitcoin longs using futures contracts were liquidated to the tune of $100 million on June 5, bulls might have less margin required to try pumping the BTC price above the $27,000 mark. Consequently, bears seem closer to scoring a decent profit on Friday's options expiry.
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