After several days of the Bitcoin price moving above the $60,000 level, the Bitcoin price may witness some fluctuations in the coming hours, with the expiration date of about 18,500 Bitcoin options contracts approaching today.
The nominal value of the total of these contracts is approximately $1.15 billion.
For your information, the volume is lower than it was a week ago.
For options (buy and sell) it is at 0.64 this week which means that more calls or long contracts are expiring than short contracts (put contracts).
Long trades also dominate open interest (OI) contracts with approximately $700 million with strike prices of $70,000 and $100,000.
Open interest refers to the number or value of contracts that have not yet been settled and these options give the right to buy the underlying asset at a pre-determined price on or before a specified date.
In addition to today's batch of Bitcoin options, 276,000 Ethereum contracts are also set to expire.
Current market situation:
Currently, Bitcoin continues to trade in supply above the level of 62 thousand dollars, where it achieved an increase of 2.68% in the last 24 hours, which also had a positive impact on most alternative digital currencies, which in turn raised the total value of the market to more than 2.33 trillion dollars.
The cryptocurrency market seems to be as volatile as always! Bitcoin reaching $63,000 and rising 3% in one day reflects fast and strong market movements. Such increases may be the result of positive news or increased interest in the cryptocurrency from investors. However, we must remember that crypto markets are known for their high volatility, which may change at any time.
If you are considering investing in Bitcoin or any other currency, you should be careful and understand that these markets are associated with significant risks. It is necessary to check the latest news and information about cryptocurrencies and understand the factors that may affect their prices. Do not forget to consult reliable sources and invest amounts no more than you can afford to lose.
