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3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry -Breaking

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3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry

The surprise of (!) surprised investorsBTCThe () price fell to $25,500 by May 12 and the shock was felt even more by options traders. This strong correction did not stop at cryptocurrencies. Large-cap stocks also suffered 25% to heavier weekly losses during the same time.

Growing economic uncertainty impacted S&P 500 index members like Illumina (NASDAQ:), which declined by 27% over the past seven days and Caesars Entertainment (NASDAQ:) faced a 25% drop. Canadian’s largest e-commerce firm, Shopify (NYSE) saw its stock drop by 28%.

Bitcoin options total open interest May 13. Source: Coinglass