Bitcoin bulls look to profit from Friday’s $195M BTC options expiry By Cointelegraph
Over the past ten days, (BTC) price tested the $44,500 resistance on multiple occasions, and this marked a 16% drawdown from the previous week’s $53,000 local top. Options markets data shows that bulls are not affected by the liquidation of $3.4 billion worth long futures contracts on September 7, when BTC fell 18.7%, but it was still possible to profit from Friday’s $195M BTC options expiry.
If historical data plays any role in the price of Bitcoin, the month of September presented negative performances in four of the previous five years, and BTC finished August trading at $47,110.
The bulls apparent advantage is misleading
Incentives are in place for bulls to try to break $50,000
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