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Will Bitcoin fall below $70K after $2.2B options expiry?

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The inflows from the United States spot Bitcoin ETFs could help Bitcoin absorb the selling pressure from Friday’s option expiry.

Bitcoin could fall below the $70,000 psychological mark on June 7, with over $2.2 billion worth of cryptocurrency futures options set to expire.

“We are currently 42.5% lower in terms of options OI relative to the peak in November and hence the impact that options expiries have on the larger market can be estimated to be lower than in the past.” “As an asset class matures - there are multiple tiered strategies where a trader can use options as a hedge against their futures or spot position so the max pain price reflected based purely off of options data does not reflect the"true" max pain price.”Institutional inflows from the United States spot Bitcoin exchange-traded funds could help BTC remain above the key $70,000 price mark.

 

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