Global markets are awaiting the aftermath of the real estate crisis in China, and cryptocurrency investors are awaiting the exercise of $ 3.4 billion in bitcoin options.
Over the past three days, bitcoin has fallen by 12%, while ETH, ADA, BNB, XRP and SOL have fallen in price by 15% -19% amid the problems of the Chinese developer Evergrande Group.
Investors in search of positive news drew attention to the options on bitcoin, the term of which
expires 24 September… This is the largest expiration of $ 3.4 billion (about 80,000 BTC) options expiring in 2021.
The execution of contracts can cause a wave of volatility in the cryptocurrency market, as has happened in the past. Given that interest in Bitcoin has grown significantly in 2021, the level of volatility will be higher than in the previous year. Statistics indicate that investors are more interested in options for the growth of bitcoin than for its fall.
Despite expectations of positive closure of contracts, the market situation remains tense. The collapse of prices in the cryptocurrency market over the past three days indicates that many bullish contracts will be liquidated.
Traditionally, September is not the best month for Bitcoin. Only in 2013, 2015 and 2016 did Bitcoin show growth in September. Therefore, investors do not expect bitcoin to grow this month, and yet they are looking towards options with hope.
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