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Bears have a $100M reason to keep Bitcoin price under $45K until Friday’s options expiry -Breaking

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Bears have a $100M reason to keep Bitcoin price under $45K until Friday’s options expiry

Analysts argue thatBTC() rallied too quickly and too soon, which is why we have the current weakness of April 7. Right now, New COVID-19 versionThe Chinese government has imposed severe restrictions in Shanghai and other large cities. Persistent regulatory concerns have continued to weigh on the sentiment within the cryptocurrency sector.

A further worrying development was the vote by the ECON (Commission on Economic and Monetary Affairs) of March 31, the European Parliament, to amend the regulations governing the use of exchange platforms. To deal with crypto wallets that are not custodial.

Bitcoin/USD price chart for the first day. Source: TradingView
Bitcoin options open interest aggregated for April 8 Source: CoinGlass

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