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$1.1B in Bitcoin options expire on Friday, but data points to a sub-$55K BTC price -Breaking

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© Reuters.

(BTC) bulls are nonetheless licking their wounds from the bloody Dec. 4 correction, which noticed the value collapse from $57,000 all the best way to $42,000. This 26.5% draw back transfer induced $850 million in lengthy BTC futures contracts to be liquidated, however extra importantly, it shifted the “Concern and Greed index” to its lowest stage since July 21.

Bitcoin/USD value at FTX. Supply: TradingView

It’s one way or the other unusual to match each occasions, because the July 21 sub-$30,000 low would have erased the complete positive factors in 2021. In the meantime, the $42,000 low from Dec. 4 remains to be a 44% achieve year-to-date. Examine this in opposition to the S&P 500, which is up 21% in 2021, and the WTI oil value, which has accrued a 41% achieve.

Bitcoin choices combination open curiosity for Oct. 10. Supply: CoinGlass