Bitcoin Price Set for a Turnaround? $776M Options Expiry Could Shift Market Momentum
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Bitcoin (BTC) has extended its decline, now trading near $53,081, as shown on the 4-hour chart. The global crypto market cap stands at $1.95 trillion, reflecting a 24-hour drop of over 2.5%.
Investors are anxiously awaiting the upcoming US Non-Farm Payroll (NFP) report, which could influence the Federal Reserve’s stance on potential interest rate cuts.
On Friday, September 6, approximately 13,500 Bitcoin options contracts, with a total notional value of around $776 million, are set to expire. Bitcoin options expirations often lead to heightened volatility. If traders adjust their positions, it could trigger a price recovery.
However, if bearish sentiment persists, the decline could deepen. This expiry presents a pivotal moment for Bitcoin, as market sentiment remains divided, adding to the current uncertainty surrounding BTC’s near-term outlook.
On Friday, September 6, approximately 13,500 Bitcoin options contracts, worth around $776 million, are set to expire. While this expiry is smaller than the previous end-of-month event, its immediate effect on Bitcoin’s price is expected to be minimal.
The current put/call ratio stands at 0.82, signalling a slight preference for call options, yet overall market sentiment remains bearish. Bitcoin is trading around $53,081, well below $56,000, and the Fear and Greed Index shows “extreme fear.”
BREAKING: Bitcoin Options Expiry: $760 Million in BTC Contracts Set to Mature Amid Market Optimism#Bitcoin #BTC $BTC
As the broader cryptocurrency market struggles, Bitcoin remains under pressure.
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