Bitcoin traders watch $32K ahead of Friday's $330M BTC options expiry

Bitcoin traders watch $32K ahead of Friday's $330M BTC options expiry

This Friday’s weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls’ willingness to display reversion signs.On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm’s quantitative trader, mentioned that the narrative for BTC could turn bullish because of the ongoing fear, uncertainty and doubt (FUD) caused

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Bitcoin price hits $32K but derivatives metrics still show signs of weakness

Bitcoin price hits $32K but derivatives metrics still show signs of weakness

There’s no doubt that the last couple of months have been bearish for Bitcoin (BTC), but throughout this entire period, derivatives indicators have been relatively neutral. This could be because cryptocurrencies have a strong track record of volatility, and even 55% corrections from all-time highs are expected.After two months of struggling to sustain the $30,000 support and finally losing it on July 20, the futures premium and options skew turned bearish. Even PlanB’s stock-to-flow valuation

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